German Dax Repeats Attempts to Climb

Positive trades dominated the German DAX index after maintaining trading above the support level of 15,430, stable around its highest level of around 15,585.

Technically, we tend to be positive, but cautiously, relying on the positive crossover signals on Stochastic, in addition to the positive motive of the 50-day moving average.

Confirming the breach of 15,585 increases the strength of the bullish bias, witnessing attempts to visit 15,660 first target, taking into account that breaching the latter contributes to consolidating the index’s gains towards 15,740.

The return of the stability of trading below 15,430 invalidates the bullish scenario, and we witness bearish movements whose initial target 15,280. 

Note: The level of risks is high

S1: 15430	R1: 15660
S2:  15280	R2: 15740
S3: 15200	R3: 15890