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At the beginning of this week the German stock market closed below the midterm upward trend line at 10,190, but not significantly. Only one day later the DAX moved upwards in the direction of the Fibonacci retracement (61.8 per cent) at 10,494.
Above this level the improvement could continue to the 200 days weighted moving average (WMA) at 10,767 and the intersection resistance at 10,856/10,861 (50% retracement and the upper trend line of the downward trend channel).
Below the mentioned support at 10,494 a further test of the midterm upward trend line would be very possible. The next support is the psychological price level at 10,000.