DAX weakening from key resistance cluster
The DAX is starting to weaken from the crucial 11,861 level, which encompasses last Monday’s high and the 50-period simple moving average.
A break back below 11,792 would be a bearish indicator for the short term, while an hourly close below that level would point towards a move back into trendline support around 11,750. Otherwise, a break back above 11,861 would point towards a continued resurgence for the index.
Dow likely to push through triangle resistance
The Dow Jones continues to move gradually higher, with the index knocking on the door of 20,835-20,845 a number of times this week. With that in mind, an hourly close above the 20,845 level would provide us with a bullish breakout signal.
Conversely, while we could see a push back below the current trendline support, we would need to see an hourly close below 20,769 to provide us with a less bullish outlook.