DAX INTRADAY consolidation resistance retestTrend Overview:
The DAX Index remains in a bullish trend, supported by a series of higher highs and higher lows. The broader structure continues to favor the upside, although recent intraday price action suggests a sideways consolidation, signaling a potential pause within the prevailing uptrend.
Key Support and Resistance Levels:
Support: 23680 (key pivot), followed by 23445 and 23200
Resistance: 24570 (initial), then 24770 and 25000
Technical Outlook:
A pullback toward the 23680 support—which aligns with the prior consolidation zone—could offer a buying opportunity if price action confirms a bullish reversal from that level.
A sustained break above 24570 would likely accelerate bullish momentum, targeting 24770 and 25000 over the medium term.
Conversely, a daily close below 23680 would invalidate the bullish bias, exposing the index to a deeper retracement toward 23445 and potentially 23200.
Conclusion:
While the broader DAX trend remains bullish, traders should watch for price behavior around the 23680 level. A bounce could resume the uptrend toward 25000, but a confirmed breakdown would shift the short-term bias to bearish, signaling a deeper correction.
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