DAX struggles near record highs

15/06/2021

German DAX index was modestly higher on Tuesday, trading at around 15,750 EUR, somewhat lower than yesterday's record highs. 

The first support seems to be at the 8-day EMA, currently near 15,660 EUR, where yesterday's lows are also located. Afterward, the stronger support should be at May's uptrend line near 15,630 EUR.

If the index drops below the trendline, the short-term outlook could change to bearish, with a possible correction toward 15,500 EUR. 

Alternatively, should the bullish momentum continue, the first resistance is at Monday's highs near 15,800 EUR, with the second target probably at the psychological level of 16,000 EUR.

The long-term trend in stocks remains bullish as long as the central banks will continue printing - so basically forever. 
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