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S&P Can Surge if It Holds 945: Charts

If the S&P 500 index manages to hold above 945 in July, then the rally has further to go over the next few months, Roelof van den Akker, chartist at ING Wholesale Banking, said Tuesday.

"For the intermediate term, investors should buy on weakness between here and the next six months as we expect a continuation of this rally into the 1,100 (to) 1,140 resistance area," he told CNBC.

On Germany's DAX index, expect a short-term high between 5,300 and 5,400 and then we could see a pullback to 4,900, van den Akker said.

He suggested buying on the pullback as it will rise again toward the 6,000 level once it has formed the higher bottom at 4,900.