German Dax Above Support

German DAX maintains the bullish bias. Technically, we tend to maintain the negative outlook, provided that 13170 is confirmed, which enhances the chances of a rise towards 13220 as a first target, followed by 13290, based on the index’s success in building on the support floor of 13045/13040 with the positive stimulus from the 50-day moving average.

The breach of support 13040 is able to negate the attempts to rise and put the index under negative pressure with the aim of re-testing 12970.
Note: Risk remains high.