German Dax Based on Support

The German DAX index relied on the solid support level located at 15,600, forcing it to rebound to the upside again to retest the 15,780 level.

On the technical side, the current movements of the indicator are witnessing a bullish slope accompanied by the attempts of the 50-day moving average to push the price higher in the coming hours, coinciding with stability above the mentioned support of 15,600.

We tend to be positive, but cautiously, targeting 15,810 first target, considering that the confirmation of breaching the mentioned level is a motivating factor that increases the possibility of touching 15890.

Activating the bullish scenario depends on the stability of trading above 15,600, and breaking it will negate the bullish bias, and we are witnessing bearish movements with an initial target of 15,520.

Warning: The level of risk is high.

S1: 15625	R1: 15810
S2:  15520	R2: 15890
S3: 15440	R3: 15990