German DAX hits new record high
German DAX continues its upward move during today's session. The index has just broken above the psychological level of 15,000 pts thus establishing a new historic high. It seems investors in Europe have ignored the rise in US bond yields, and are hoping that Archegos Capital's meltdown will be contained. Looking at chart H4 chart from a technical point of view, the nearest target for buyers is located around 15030 pts and is marked with161.8% retracement of the recent local downward correction. However, if buyers will manage to uphold momentum, then the test of the upper limit of the ascending channel cannot be excluded. Nearest support is located around 14,800 pts.
DE30 interval H4. Source: xStation5
