DAX index back in bullish regime


It looks like the chatter of more ECB' QE is helping, and the German DAX has been bid over the previous days. It managed to push above the 13,000 EUR resistance, and on Thursday, it was up another one percent, hovering near 13,050 EUR.

As long as DAX remains above June's highs of 12,950 EUR, the short-term outlook seems bullish. However, bulls now need to push the index above the critical resistance zone between 13,200 - 13,400 EUR. 

If they are successful, the medium and long-term outlook would probably change to bullish as well. The next target would be at pre-corona highs near 13,800 EUR.

A bit more stimulus by the Fed or the ECB and the index should shoot through these resistances without any problems, despite rising COVID cases globally. 

Alternatively, a failure to stay above 13,000 and 12,950 EUR could lead to a smaller decline toward 12,800 EUR. For now, the trend seems bullish. 
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