DAX above 15,000 EUR for first time

31/03/2021

The German DAX index keeps rallying, supported by more lockdowns and weaker euro. 

On Wednesday, it was trading above the psychological level of 15,000 EUR, and it looks like the bull market has further room to go. 

While US stocks, especially tech stocks, struggle to maintain the bullish momentum, DAX continues rising without any corrections. The intraday support now seems to be at 14,950 EUR, and if not held, the index might decline to 14,930 EUR, where the steep bullish trend line is located.

Another demand zone could be in the 14,800 EUR area, where previous swing highs are located. 

Alternatively, DAX needs to climb above the current highs near 15,030 EUR to confirm the bullish bias. The next target is hard to define as the index has never been above 15,000 EUR.

Volatility is expected to be elevated, mainly due to overbought conditions and rising US yields, causing some tensions in the markets. 
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