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DAX Achieves Gains With a Bullish Bias

Adel 8 October, 2020 11:39 am Daily Technical Analysis, Technical Analysis

The German DAX index began to rise, posting a strong gain, reaching an intraday high at 12985.

On the technical side, and looking at 60-minute chart, we find that the simple moving averages continue to hold the price along with positive signals from the RSI.

Therefore, a bullish bias is likely today towards previous targets 13040 / 1.3030. From the downside, the return of trading below 12880 is able to negate the bullish scenario and put the price under negative pressure, targeting 127780. Warning: the risks are still high

S1: 12870R1: 13035
S2: 12760    R2: 13095   
S3: 12700      R3: 13210   

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