Dax Touches The First Target

The German DAX index succeeded in achieving the expected negative outlook mentioned in the previous analysis, touching the official target located at 12330 with session low at 12328.

Technically, we see that the index has benefited from the support floor represented by the target within positive attempts to stabilize momentarily above the 12450/12440 support floor with positive signals from RSI

This makes us believe that there is a chance in the coming hours for a slight upward slope targeting a retest of 12630 and extending to 12700.

Trading again below 12440, postponing the chances of an upside and the index may witness negative moves, its initial target is 12370 and may extend to 12220.

Warning: The risk level is high and all scenarios on cards.

S1: 12370	R1: 12630
S2: 12220	R2: 12740
S3: 12110	R3: 12890