The major European stock indices are closing higher on the day. The gains are led by the German DAX which rose 1.6%.

Looking at the daily chart of German DAX below, the high price today stalled near a topside trend line (see green numbered circles). The trend line is the topside trend line of a downward sloping channel defined over the last few months.

Last week, the low price stalled against the lower trendline of the channel, and found buyers against that level.

The move to the upside since then has been up and down with an upward bias. Today, the price gapped higher at the open, and continued higher into the close

Going forward, tomorrow will be key for the index. Getting above the topside trend line near 14202 (the high reached 14203 today), would have traders targeting the 50% midpoint of the range for 2022 at 14362.10 as the next key target. The price today closed near 14185 allr.

Conversely, staying below would give the sellers some added confidence.

Needless to say, tomorrow will be an important day for the index and the technical bias going foward.

German Dax
German Dax is closing near a topside trend line