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The 50-hour moving average is proving a decent support metric, with price action remaining above the 9735 level with the 9700 level coming in below that.
The German index has now gained over 8.5% in the past month, yet the bearish divergence on the daily RSI – coupled with the fact that price action is some 13.5% above the 200-day moving average – suggests that a correction may be imminent.
The upside of the four-month bullish channel is not yet seeing a convincing challenge.