DAX 30 Germany weekly Technical Analysis

The index broke through yet another important resistance level at 9780 and at the moment moves around the 9800-9950 levels. In upward direction the next resistance can be found at the psychological barrier at 10 000 points, where traders should be aware of a fake break. Bulls’ momentum is showing signs of a slowdown, but the upward trend remains intact. A possible downward correction can lead the price to the support levels, lying at 9165, 8900 and 8500.