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GER 30 Seeks Support On Key Daily Level

The DAX consolidates gains as investors weigh high valuations against the pace of recovery.

On the daily chart, a bullish MA cross is a sign of acceleration in the rally after a six-week-long consolidation.

The index is currently looking for support from the 20-day moving average (15475). Bullish sentiment remains strong as long as buyers hold above this key level. Failing that, 15350 would be the next line of defense.

On the upside, a recovery to 15720 would bring in momentum players for a runaway rally.

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