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A new higher high on DAX

DAX has broken above the nearest resistance area around 12180. Bullish trend remains intact. There is a strong bullish momentum, one should seek for an opportunity to join the bullish trend with a new higher low. The next important resistance lays around 12300. We may see a re-test of the nearest support after it is defended. There is no overbalance, there are also no bearish reversal signals even on smaller time frames. We’ve pointed out a possibility of a rally in yesterday’s review. 

DAX has hit the highest level in almost two years, European equities are generally trading higher on a growth story. German equities are the best performing in Europe, DAX has climbed 0.51%. Rebound on equities is caused mainly by fading fears of ’Trump trade’ failure. Markets aren’t too worried about Britain formally beginning its EU exit process.

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DAX has moved within a distinct bullish trend, a new higher high has been established, source: xStation5

Company news:

  • X-S&PGR has upgraded Deutsche Bank Securities to ’A-’, X-S&PGR has upgraded one notch the long-term counterparty credit rating on Deutsche Bank and removed the rating from CreditWatch positive on March 28, 2017



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