German Dax Achieves The Rising Goals 5/1/2022

The German DAX index managed to touch the official bullish target required to be achieved during the last report at 16185, recording its highest level at 16,188.

On the technical side, and carefully looking at the 60-minute chart, we tend to be positive, but very cautiously, relying on the price’s intraday stability above the 16,045 support level, in addition to the price stability above the 50-day moving average.

We target 16,210 as a first target, knowing that breaking is a catalyst that increases the strength of the daily bullish trend to open the door to visit 16,280, and gains may extend later towards 16,350.

Declining below the support floor of 16,045 can thwart the bullish scenario suggested above, and we are witnessing a bearish bias that targets retesting 15,945 and 15,870, respectively.

Note: The level of risk may be high.

S1: 16045	R1: 16210
S2: 15945	R2: 16280
S3: 15875	R3: 16380