German DAX trending higher

Daily Insight

Commentary:

Monday - German Industrial Production m/m beats forecast this follows Friday’s strong September factory orders data

German DAX +12% since October 13th

Higher tops and higher bottoms on price indicates short term uptrend taking shape (daily chart) , however resistance in front of current price may push price lower before continuing any further advance.

Current price 13,441

Key resistance at 13,555 , a break above resistance places 13,750 in sight for longs with a short term view (5 to 25 days), while short sellers may be aiming for a retest of the 12,950 support spotted at the 38.2% retracement from the 4 week high.