Germany’s Dax Extends Gains

The German DAX index posted noticeable gains within the expected bullish path, touching the second target to be achieved, mentioned in the previous analysis, at 13,420, recording a peak at 13,441.

Technically, with the index being able to build on a support floor of 13,260, in general above strong support of 13,220, with the 50-day moving average in support of the upward curve of prices.

All of this encourages us to stay on the positive side, targeting 13,410 as a first target, and breaking it will confirm and accelerate the upside towards 13,530.

On the downside, returning to trading below 13,220 and most importantly 13,190 will negate any attempts to rise and put the index under strong negative pressure towards 13,100.

S1: 13190	R1: 13405
S2: 13100	R2: 13530
S3: 12970	R3: 13620