German Dax is Trying in The Positive Direction 10/1/2022

The German DAX index starts its first weekly move on an upward slope after it managed to build on the support of 15,850, to reach its highest level at 16,050.

On the technical side, today we tend to the positivity, but with caution, relying on the positive motive of the 50-day moving average and the stability of the RSI above the 50 mid-line.

Therefore, we may witness an upward trend in the coming hours, knowing that the breach of 16,050 is an important and necessary condition to paving the road to 16,145.

From below, the return of stability below 15,840 will immediately stop any attempts to rise, and we are witnessing a negative trading session whose first objective is to retest 15,740.

Note: the level of risk is high and is not commensurate with the return.

Note: CFD trading involves risks; all scenarios are open.

S1: 15840	R1: 16050
S2: 15740	R2: 16145
S3: 15640	R3: 16245