German DAX Looking For Extra Momentum

Due to the conflicting technical signals, we remained neutral during the previous session to witness the current movements of the German DAX index with an upward bias.

On the technical side, trading today settled above the support level 15,760/15,750, accompanied by the index getting an incentive from the 50-day moving average.

We tend to be positive, but with caution, provided that we witness a clear and robust breach of the resistance level 15,870, targeting 15,930 first and then 15,980.

The return of trading stability below 15,750 invalidates the bullish scenario, putting the index price under negative pressure targeting 15,700, and losses may extend towards 15,650.

Note: The risk level is high.

S1: 15760	R1: 15870
S2:  15700	R2: 15930
S3: 15650	R3: 15980