Once again we see the Dax attempting to break the resistance level at 12488 however we can assume that without moving above and consolidating at this level prices could move back down towards 12000. This is particularly due to uncertainty surrounding the US and China trade talks with China indicating that more talks were needed to confirm the partial trade deal agreed between the US and China on Friday. However, if the market consolidates above 12488 we expect further upside towards 13000 as we await results of the ZEW surveys tomorrow which could lead to strong price action and volatility.