Dax Tries to Retest Support

Positive trading dominated the moves of the German DAX, shy off the target published in the previous analysis at 12600, to hit a high of 12580.

Technically, the current movements of the index are witnessing an intraday stability above the support level 12360, and we find the RSI indicator stable above the mid-line 50.

Therefore, we believe that bullish opportunities are still available, provided that the breach of 12590 is confirmed, targeting 12690 then 12720.

On the downside, by returning to trading below 12330, the bullish will be postponed and may witness negative moves towards 12210. Warning: The risk level may be high.

S1: 12335	R1: 12590
S2: 12210	R2: 12720
S3: 12080	R3: 12850