The Dax is up 1% this morning, approaching resistance levels at 15,840 followed by 15,891.

The Dax is up 1% this morning, the index has climbed above the 20-day moving average and now approaching the 50-day MA. Currently trading at around 15,800 with the next resistance level at 15,840 (50-day MA) followed by 15,891 (100-day MA). A break above the 100-day MA could see the index rise higher towards 15,950-16,000. Support below now sits along the 20-day MA at 15,726. A break below this level could see the index slide back towards the key support level at 15,624. Both the MACD and RSI are currently positive with the RSI reading 56.