Noor Trends News, Technical Analysis, Educational Tools and Recommendations
The German DAX index managed to achieve noticeable gains within the bullish context, as we expected, surpassing the second target that is required to be achieved 15730, recording the highest price of 15780.
On the technical side today, and with careful consideration of the 60-minute time frame, we find the 50-day moving average that supports the continuation of the idea of the rise and the stability of daily trading above the 15620 support level.
We may witness a bullish bias in the coming hours, knowing that trading above 15790 extends the index’s gains, opening the way directly to visit 15870, and gains may extend later towards 15950.
Breaking the 15620 support level will immediately stop any positive movements and return the negative pressure to control the index’s movements, with the first target of 15540 and 15460, respectively.
Note: The risk level remains high.
| S1: 15620 | R1: 15790 |
| S2: 15540 | R2: 15870 |
| S3: 15460 | R3: 15950 |
