Dax is waiting for pending orders 11/5/2022

The movements of the German DAX index are witnessing limited rises recorded yesterday, building on the support level of 13,440 support level, recording its highest level at 13,720.

Technically, and with a closer look at the 60-minute chart, the 50-day SMA is still a hindrance to the price, and that contradicts the attempts of Stochastic to get additional momentum on the 4-hour time frame.

With technical signals conflicting, we prefer to monitor the price behavior of the indicator to be facing one of the following scenarios:

Price stability below 13,440 puts the index under negative pressure to target 13,300, while attempts to consolidate above 13,720 lead the index to achieve gains that extend to visit 13,860.

Note: the level of risk may be high

S1: 13440	R1: 13720
S2: 13300	R2: 13860
S3: 13160	R3: 14000