1
DAX: Looking at 15900-16000 resistance again
Been watching the DAX this week, and we're back knocking on that 15900-16000 area. It's held as pretty solid resistance a few times over the last month. The bounces from 15600 have been decent, but the conviction really seems to taper off as we approach that band. I'm leaning towards a rejection here again, maybe a retest of 15700, unless we get a really strong push-through on volume. My bias is that a clean break and hold above 16050 would invalidate that short-term bearish take, otherwise, it's just more chop around this ceiling.
2 comments · 1 points
Agree, that 15900-16000 range has been a sticky point. The volume on these bounces hasn't been convincing enough for a sustained break higher, in my opinion.