German Dax Faces a Positive Scenario

Positive Moves is still dominating the movements of the German DAX index. On the technical side, we tend to be positive, depending on trading remaining above the strong support at 13,220, in addition to the positive motive coming from the 50-day moving average.

The first target is located around 13,320/13,340, and the breach of the aforementioned level is a catalyst that enhances the chances of an advance towards 13390 and may extend later towards 13,420.

The return of trading stability below 13,220 is capable of negates the attempts to rise and puts the price under strong negative pressure, targeting 13,150.

Note: The level of risk is still high.

S1: 13220	R1: 13340
S2: 13150	R2: 13390
S3: 13100	R3: 13465