DAX in a correction mode again

The German stock market has some problems with the resistance at 10,015/10,048 points. 

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Source: Bloomberg

Above this price level the DAX would generate a new buy signal. A significant jump is needed to continue the upward trend.

Since the end of June the momentum has been decreasing. But an increasing momentum would be very important to break up the mentioned resistance. Furthermore from the seasonal point of view the month of July is  one of the weaker months of the year.

Currently the DAX is in a correction mode again. The target is the trend line at 9792/9795 points. Next supports are the increasing 200-days-moving average (weighted) and the trend line at 9631/9647 points. 

DEM_DAXdailychart08072014
German stock market DAX on daily basis / IG Charts

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