European indices managed to erase early losses and climbed above the flatline during afternoon trades on Monday. The German stock market index DAX (DE30) is gaining slightly more than 0.5% today, but it was enough to test the June highs again.
Looking technically at the DE30 chart on the D1 interval, last week the index bounced off the lower limit of the ascending channel and the upward movement accelerated. Currently, the index is approaching its all-time highs, thus the market bulls have a chance to break out from the consolidation zone. On the other hand, if sellers manage to take the initiative, then the index may move towards the lower limit of the consolidation zone.
DE30 at record levels. Source: xStation5
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