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The German DAX index jumped, achieving notable gains, recording its highest level at 15,426, moving away from the pivotal support level 15,000.
On the technical side, today, there may be a possibility to resume the rise that started yesterday due to the positive motive coming from the 50-day moving average, which returned to hold the price from below, in addition to stabilizing the intraday trading above 15,300.
The breach of 15,420 may be a motivating factor contributing to consolidating the gains of the DAX to visit 15,400, knowing that its breach increases the possibility of touching 15,650 as long as the price is intraday stable above 15,300.
The decline below 15,300 can stop the temporary bullish bias and lead the index to the official descending path to visit 15015, and it may extend later towards 14870.
Note: The risk level is high
Note: Trading on CFDs involves risks. Therefore, all scenarios may be possible. This article is not a recommendation to buy or sell but rather an explanatory reading of the price movement on the chart.
| S1: 15015 | R1: 15405 |
| S2: 14865 | R2: |