DAX Bullish breakout supported at 23330Trend Overview:
The DAX index maintains a bullish overall sentiment, supported by a sustained rising trend on the higher timeframes. However, recent intraday price action suggests a corrective pullback and consolidation phase, likely part of a broader continuation pattern.
Key Support and Resistance Levels:
Support:
Initial support: 23,330 – a key previous consolidation area and pivot level
Below that: 23,170, then 22,970 as deeper retracement levels
Resistance:
Near-term upside target: 24,030
Further resistance: 24,130 and 24,345 over the longer term
Scenarios:
Bullish Continuation:
A bounce from 23,330 would confirm this level as valid support
Sustained strength could drive price toward 24,030, then 24,130 and 24,345
Bearish Breakdown:
A daily close below 23,330 would invalidate the bullish setup
Opens potential for deeper pullbacks toward 23,170 and 22,970
Conclusion:
The DAX remains bullish in structure but is currently consolidating. Watch the 23,330 support zone closely—its ability to hold will determine whether bulls regain control or if a deeper correction unfolds. A bounce here would favor upside targets; a confirmed breakdown shifts the outlook to short-term bearish.
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