Germany's PMI and preliminary CPI figures are scheduled on the economic calendar for tomorrow. This will most likely have an impact on the DAX 40.

Taking a look at the Dax 40 on the 4 hourly timeframe, the index is currently trading at around 15,434. From a technical viewpoint, the index remains in the bearish channel that consists of lower highs and lower lows. Although, it has been positive over the last 24 hours. Present resistance levels sit at 15,435 then at 15,483 then at 15,500. The 15,500 level rests on the upper trendline of the channel, a break and close above this trendline could see the Dax break out of the bearish trend into a neutral/bullish stance. With further resistance levels at 15,556 and 15,634. On the other hand, as the bias is still negative, present support levels sit at 15,408 then at 15,391 then at 15,378. A slip below 15,378 may see the index slide further towards the key level at 15,284. Over to the technical indicators, MACD is currently positive and RSI is neutral as it reads 53. Germany's PMI and preliminary CPI figures are scheduled on the economic calendar for tomorrow. This will most likely have an impact on the index, if both readings were reported stronger than expected, this would theoretically have a negative impact on the Dax and potentially see its measurement value decline. Whereas weaker-than-expected results may create a bullish sentiment. This would ease some of the recent investor concerns about the future, and the potential hawkish actions that the ECB may undertake (European Central Bank).