Since the beginning of the year the index fell more than 5.0% however last week rallied almost 1.0%.
The DAX30 is in a recovery phase since the beginning of March in addition managed to close above the 10 and 200 week moving averages and is testing a weekly resistance.
Last week the index initially fell but found enough support to trim all loses and close near the high of the week, although closed within previous week range, suggesting a weak bullish momentum.
The Stochastic is showing a strong bullish momentum although is still below the 50 mid line.
Expecting an upward move to a key level at 10,457 (scenario 1) on a break above the weekly resistance at 10,054 or a break below the previous week open at 9,790 could drag the index down to 2015 low at 9,300 (scenario 2).