Taking a look at the Dax on the 1 hourly timeframe as it is approaching a key resistance level. Resistance sits at 15,991.

Taking a look at the Dax on the 1 hourly timeframe as it is approaching a key resistance level. Currently, the index is trading at around 15,983 and faces resistance above the trendline at 15,991. A break and close above this trendline resistance could see the index return to a bullish trend. In this case, we would then look at further resistance levels sitting at 16,022 then at 16,034 and then at 16,047. If the resistance is overpowering, support below sits at 15,974 then at 15,954 and then at 15,928. A dip below 15,928 may see the Dax retrace lower towards the key support levels at 15,905 and then at 15,885 (red oval). Looking at the technical indicators, the MACD has turned positive and the RSI is positive as it reads 57. Although, the RSI has faltered slightly.