DAX

DAX index is rising higher in a channel. On July 08, 2021, the DAX index closed below 40DEMA for a day but later it took support at the lower end of the rising channel and bounced back. In yesterday's trading session, it broke out from the consolidation and registered a new all-time high. In forthcoming weeks, the DAX index can possibly higher towards the upper end of the channel which is currently pegged at 16715. The daily momentum indicator has also turned bullish. On the way down, the 40DEMA of 15518 and the swing low of 15304 will be crucial support levels to watch out for.