DAX Buy Signal

DAX is rebounding after approaching two key pressure levels: the 1D MA200 (orange trend-line) and the 15040 Support (1). Last time the price rebounded on the level, it topped at 16,030 (current Resistance) after consolidated within a mini Bull Flag around the 1D MA50 (blue trend-line). The Flag signal is the MACD Bullish Cross so keep an eye.

The medium-term target is naturally the Resistance, while on the long-term a price range within 16250 – 16400 as every previous Higher High since June has been near the 1.382 Fibonacci extension.

Tradingview link:

https://www.tradingview.com/chart/DE40/dj8QPJkv-DAX-Buy-Signal