German Dax is Based on Support

The German DAX index managed to achieve the first required target during the previous analysis, which is located at the price of 15,700, recording its highest level at 15,702.

On the technical side, today, we are inclined to the positivity, with the index continuing to obtain a positive stimulus from the 50-day moving average, which meets around the 15,530 level.

And the stability of the intraday trading above the support floor of 15,630 encourages us to maintain our positive expectations, targeting 15,730, a first target, and its breach enhances the chances of rising to visit 15,770, and the gains may extend later to visit 15,830.

From below, confirmation of breaking 15,630 postpones the chances of a rise but does not cancel them, and we may witness a bearish tendency to retest 15,570 before any attempts to rise again.

Note: The level of risk remains high.

S1: 15635	R1: 15730
S2: 15570	R2: 15770
S3: 15500	R3: 18835