DAX Index

DAX – on 07 July I discussed the prior day’s the inside bar as a technical signal for a short term bullish reversal. We have since seen the index advance with the last close at the 50-day EMA. This may act as a resistance zone thus for ultra short term traders, the reward-to-risk at current levels. The next preferred entry for short term traders would be at the intersection of the 8 and 21-day EMA, just above 13000. Any upside upside overshoot of the current price would target the 65-EMA, approximately.