Technical Update - DAX, GER40 & Euro Stoxx 50. In correction mode or can they take out support

Weekly chart DAX is bouncing from around the March trough at around 12,438. There is divergence on RSI indicating the bounce has a bit more leg to run. However, trend is still down Resistance and gap at 13,565 is strong . If selling pressure resumes and RSI breaks below its lower rising trend line the 12,438 support is likely to come under pressure. If taken out we are likely to see DAX testing strong support at 11,556.

GER40 first indication this rebound has more legs to run is if the GER40 cfd/DAX future breaks above is short term falling trend line i.e. a break above 13,020. If that scenario plays out we could see the resistance at 13,675 to be tested.
However, the trend is still down and there is no divergence on RSI indicating another push at the support at around 12,430.

Euro Stoxx 50 trend is down and will remain so until it the Index closes above 3,596. However, Euro Stoxx could be range bound between 3,357 and 3,582 for the next few days.
RSI showing divergence indicating a rebound from lows and if the Index moves above 3,511 the resistance at 3,582 is likely to be tested.
If we see a close above 3,596 the medium term falling trend line (Black declining line) could be tested.

On the weekly chart we can see there seems to be strong support around 3,360. RSI showing divergence indicating higher levels but look out for a possibly break below the lower rising trend line on RSI. If it breaks below it is an indication of the support is to be taken out and lower levels in Euro Stoxx 50. A close above 3,596 the falling trendline is likely to be tested.