German DAX Facing a Retest Scenario

The German DAX index managed to achieve strong gains as we expected, touching the first target that is required to be achieved during the previous analysis, located at 15,780, and it is approaching by a few points by a few points at the second target of 15,830, to record its highest level at 15,805.

Technically, and with the continuation of the positive incentive coming from the simple moving averages that continue to hold the price from below, in addition to the stability of trading above 15,660.

The bullish bias is likely today, as long as the breach of 15,800 is confirmed, targeting 15,865, then 15,930.

Note: Stochastic provides negative signals that may force the index to retest 15,660 before attempts to rise again.

Note: The risk level is still high.

S1: 15660	R1: 15795
S2: 15590	R2: 15865
S3: 15520	R3: 15930