DAX Re-test Support

The German DAX index was able to touch the first target to be achieved, which is located at 13,970 and is close by a few points from the second goal 14,110, recording its highest level of 13,994.

On the technical side, the current movements of German DAX are witnessing a slight bearish tendency, and with a closer look at the chart, we find the stochastic indicator trying to get rid of the current negativity, supported by the continuation of the RSI indicator to obtain bullish momentum over short periods of time.

Thus, the bullish bias is likely today, targeting 14,020 the first target then 14,060, knowing that the confirmation of the recent breakout will maximize the index’s gains targeting 14,130.

Activating the suggested scenario requires holding above 13,900/13,890. Note: the level of risk remains high.

Note: The US employment data are due today and may affect the price.

S1: 13910	R1: 14020
S2: 13845	R2: 14060
S3: 13810	R3: 14130