Noor Trends News, Technical Analysis, Educational Tools and Recommendations
The German DAX index started today’s trading session with a noticeable positivity, recording its highest level during today’s morning trading around 16,056.
Technically, the daily trend tends to the upside as a result of the DAX getting a positive stimulus from the 50-day moving average, in addition to the positive signs of the 14-day momentum indicator.
From here and steadily trading above 15,920, the bullish scenario is the most preferred, knowing that the breach of 16,056 facilitates the task required to visit 16,120 first target, and gains may extend later to visit 16,185.
Trading stability returns below the aforementioned support level 15,920, leading the index to trade within the negative range, with the first target of 15,780 and extending towards 15,710.
Note: The level of risk may be high.
| S1: 15920 | R1: 16120 |
| S2: 15780 | R2: 16185 |
| S3: 15710 | R3: 16320 |
