Technical Update - DAX and EuroStoxx 50 warming up to test all-time highs

Weekly. If DAX closes above 15,706 there is no resistance until all-time high at around 16,290 just above the 1.382 projection of the March correction.
Weekly trend is up but there is RSI divergence indicating the uptrend is weakening. But if weekly RSI closes above its falling trend line it will support the higher DAX levels. A close above the dashed horizontal line will cancel the divergence an much higher DAX levels will be in the cards.
To reverse the medium-term uptrend a close below 14,458 is needed.

GER40 levels: Testing resistance at around 15,656. A move above 15,707 is likely to fuel another leg higher to at around 16,184. 
To reverse the uptrend at close below 14,800.

EuroStoxx50 testing March peak. A close above and an RSI close above 60 will confirm the uptrend that will have short-term potential to 4,455.
However, a correction could be seen down to around 4,200 before the Index moving higher.

Medium-term. Bearish break out of the rising trendline seems to be short-lived. Weekly RSI is above to break above its falling trendline which would be an indication that EuroStoxx50 is very likely to test and event taking out all-time highs at around 4,415 and move to 1.382 projection at around 4,455 possibly move to 1.618 projection at 4,536.

To reverse medium-term trend a close below 3,980.