The DAX goes in search of another leg higher
The index is now gaining by nearly 2% on the session, looking to hold a break above the 30 April high @ 11,235.57. It is now trading to its highest level since 6 March.
The market is adopting a more risk-on approach to kick start the week, although that is largely limited to the equities space for the time being. European bonds and major currencies aren’t really showing much enthusiasm throughout the session so far.
But from a technical perspective, this break could keep the run higher in the DAX going towards a test of its key daily moving averages now.
For some context, the DAX is trading up by nearly 37% from the low this year on 16 April.