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DAX, Technical Analysis

DAX Continues to Gain

Adel 10 November, 2020 11:23 am Daily Technical Analysis, Technical Analysis

The German DAX jumped above the required targets at 12720, to hit a high of 13287.

Technically, the bullish trend is still intact, given that trading remains stable above the resistance converted into support at 12720, with the index continuing to get positive motive from the 50-day moving average.

We will maintain our positive expectations, targeting 13295 as a first target, followed by 13600. Returning to trading below 12720 will negate the bullish scenario, and we may witness a re-test of 12660 and may extend to 12560.

Caution: The level of risk is high

S1: 12665R1: 13295    
S2: 12350R2: 13605   
S3: 12040   R3: 13920   

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