The DAX index rose 0.37% led by positive price action in US equities as trade headlines suggest a positive outcome from US-China trade negotiations set to begin today. While global sentiment has improved, Brexit developments remain a matter of concern as parliament is set to meet today and debate on how the UK shall move forward.
The DAX index is currently ranging within the bounds of 11230-11130 whilst struggling to extend its rebound from last week’s low of 10860. While there is room for the index to move higher, the near-term bias is neutral and a bearish outlook remains in play so long as price fails to take out resistance at 11380.
Support: 11120/ 11050
Resistance: 11230/ 11320