The DAX has formed a bullish structure right at the support. The POC zone 12220-12269 might make the price bounce towards next targets.
Targets for the move are 12410 and 12543 if 12410 breaks. We can also see 12164 as the daily support which is very important for bulls. A bounce from the POC zone should make the index higher especially because MTF shows bullish trend perspective. Have in mind that 12164 needs to hold in order for DAX30 to continue with bullish move.
Emerging pattern is a rounded bottom, which signifies newly formed bullish momentum.
The analysis has been done with the CAMMACD.MTF template.
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