Noor Trends News, Technical Analysis, Educational Tools and Recommendations
The positivity continues in German DAX index, remains within the bullish path and touches the first target expected in the previous analysis, 13155 posting high at 13161.
Technically, we find the RSI tilted to the positive with the index stable above its 50-day moving average.
We will maintain our positive expectations with caution, noting that trading above 13165 strengthens the chances of the rally towards 13205/13200 and may extend later towards 13260.
On the downside, trading below 13035 again and the most important 12990, negates the bullish scenario and puts the price under negative pressure, its initial targets at 12920.
Warning: the risks are still high and not in proportion to the expected return.
| S1: 13035 | R1: 13205 |
| S2: 12930 | R2: 13270 |
| S3: 12865 | R3: 13370 |
