German Dax Building on Support 5/4/2022

Positive trades dominated the movements of the German DAX index on the Frankfurt Stock Exchange, building on the 14,450 support level, recording the highest, around 14,590.

Technically, by looking at the 60-minute chart, with the stability of trading above the mentioned support, accompanied by the indicator obtaining positive signals from the RSI and its stability above the 50 mid-line, in addition to the positive motive coming from the 50-day moving average.

Therefore, there may be a possibility of an upward bias during today’s session, provided that the breach of 14,590 is confirmed, and that may enhance the chances of a rise towards 14,655, the first target, and gains may extend towards 14,730 as long as prices are stable above 14,420.

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: 14420	R1: 14655
S2: 14260	R2: 14735
S3: 14180	R3: 14890