Dax put the head of the muddy waters emerging from the short term weakness and recupering both the 50 and 100 days moving averages. Momentum has been strong and the index was the best performer in Europe.

Some of this bullish movements are certainly due to the imminent election rounds. Until the index stays above the 12250 level buyers will pour in. Only a very strong adverse movement due to exogenous events might derail the index in the next couple of weeks so I am bullish on the short period with a target of 12600 as the index might climb up after last month retracements.