German Dax: Continues to Advance 9/2/2022

The German DAX index succeeded in touching the first target price station during the previous analysis, located at the price of 15270, and it is close by a few points from the required official station 15350, recording its highest level at 15334.

The technical side today, we notice if the index price is settling above 15170 accompanied by the continuation of the index obtaining a positive stimulus from the 50-day moving average.

There may be a possibility to resume the rise, knowing that consolidation above 15330 may enhance the index’s gains towards 15360 initial stations that may extend its targets later to visit 15440.

Sneaking below 15170 may postpone the idea of ​​a rally, and we witness a bearish slope that aims to retest 15070 before repeating the attempts to rise.

Note: the level of risk 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: 15170	R1: 15360
S2: 15070	R2: 15440
S3: 14990	R3: 15450