Dax is Looking For More Momentum

Positive trades dominated the movements of the German DAX index to retest the 16,110 resistance level after it built on a 16,030 support level.

On the technical side, today, we tend to the positivity, but with caution, relying on the positive stimulus coming from the 50-day moving average, in addition to the price stability above 16,020.

Therefore, we may witness a bullish bias in the coming hours, but on the condition that we see a clear and robust breach of the resistance level 16,110 to open the door for 16,160 and 16,200.

Trading below 16,020 leads the index to the main descending path, with a target of 15,970 and 15,920, respectively. Note: the slight bullish bias does not contradict the daily bearish trend. Warning: the level of risk remains high.

S1: 16020	R1: 16110
S2:  15970	R2: 16160
S3: 15920	R3: 16200