. At the same time the German Stock market leapt over the 55 days exponential moving average (EMA) at 11,644 and Fibonacci retracement (23.6 per cent) at 11,695.
The DAX has generated a new buy signal on daily basis. Target price is the psychological price level at 12,000. Above this resistance the German blue chips could continue the upward trend to the highs at approximately 12,400 from April 2015.
After the trend reversal we see a typical pull back to the former resistances at 11,695/11,644. Further support is the trend line at 11,454/11,467. This mentioned level was tested several times.