The DAX index remains in a long-term uptrend, reflecting a bullish overall sentiment. The recent price action shows a bullish breakout above sideways consolidation.
The key support level is at 23,520, which marks the lower boundary of the recent trading range. If the index pulls back and holds above this level, it would suggest continued bullish momentum. A rebound from 23,520 could see the DAX pushing toward resistance levels at 23,990, then 24,200, and potentially 24,450 in the longer term.
On the downside, a confirmed break and daily close below 23,520 would weaken the bullish case. This would open the door for further declines, with the next support at 23,300, followed by a deeper retracement toward 23,060.
Conclusion:
The DAX outlook remains bullish while holding above 23,520. A bounce from this level supports a move higher, but a break below it would shift the outlook to bearish in the short term.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.