Dax Looking For Bullish Momentum

The German DAX index continues to rise after finding a good support level around 15,370, to record its highest level during the previous trading session of 15,550.

Today’s technical aspect indicates the possibility of a bullish bias in the coming hours, depending on trading above the published support above, in addition to the RSI’s attempts to obtain bullish momentum on the short time intervals.

We expect a bullish bias, but with caution, targeting 15,550 first target and breaching it contributes to consolidating the index’s gains paving the way to 15,630.

Trading below the support level of 15,370 puts the index price under negative pressure, and we may witness a bearish movement with an initial target is 15,320.

Note: The risk level is high.

S1: 15390	R1: 15550
S2:  15320	R2: 15630
S3: 15240	R3: 15700