Dax Tries to Build on Support

Positive attempts dominated the movements of the German DAX index within a bullish context, recording its highest level during early trading for the current session 15,485.

On the technical side today, we are inclined in our trading to the positive, but cautiously, relying on the stability of trading above the support level 15,370/15,340 accompanied by positive signs that started appearing on the stochastic indicator.

Confirmation of breaching 15,485 extends the index’s gains to visit the first target 15560, and then 15,630 a next official stop.

The activation of the expected bullish trend depends on the index price remaining above 15,340, and breaking it will lead the index to visit 15,270, and losses extend towards 15,200.

Note: The level of risk is high.

S1: 15345	R1: 15485
S2: 15275	R2: 15560
S3: 15200	R3: 15660