German DAX may achieve good gains 26/5/2022

Positive trading dominated the movements of the German DAX index, building on stability above the 13,860 support level.

Today, the current moves witness stability around the highest level during session 14,093. With a careful look at the chart with a 60-minute, we find the index stable above the 50-day simple moving average and the stochastic attempts to obtain more bullish momentum.

Therefore, there may be a possibility of an upward bias during the session, knowing that consolidation above 14,090 enhances the index’s gains to visit 14,140 first target, and gains may extend later to visit 14,230 as long as the price is stable above 13,900.

Trading below 13,900 will cancel the activation of the suggested bullish scenario and lead the index to the official descending path, with bearish targets starting at 13,770.

S1: 13900	R1: 14140
S2: 13760	R2: 14235
S3: 13670	R3: 14375