DAX clocks up fresh high for the month
The DAX has taken out last week’s high at 12,642, and is now testing the 200-day simple moving average (SMA) around 12,777.
From here, 12,954, followed by the 13,000 area and downtrend resistance from the January high, become the areas to watch. Rising trendline support may come into play if we see a pullback towards 12,600.
S&P 500 breaches key resistance
Yesterday saw the S&P 500 close firmly above the 2800 resistance zone, which has stymied progress since February.
The index is now targeting the all-time high at 2877. Areas of possible support come in at 2790 and then 2770.