DAX: Bullish above the 1D MA50.

DAX is pulling back today after a rejection on R1 (16,530), the biggest 1D red candle since July 6th. The 1D technicals are bullish (MACD = 102.900, ADX = 31.239) but the RSI close to becoming neutral (RSI = 55.835), which indicates the slow pace of this uptrend. The 1D MA50 made an emphatic hold four days ago, so as long as it holds we expect the index to continue reproducing the February-May fractal. Our final target is again on the HH trendline (TP = 16,650).

Prior idea:


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