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DAX, Stocks, Europe, Technical analysis

German Dax is Trying Positively

Adel 17 September, 2021 11:59 am Daily Technical Analysis, Technical Analysis

The current movements of the German DAX index are witnessing an upward trend, benefiting from stability above the 15,630 support level.

On the technical side, we tend to the positivity, relying on stability above the mentioned support and the RSI’s attempts to obtain bullish momentum above the 50 mid-line.

Therefore, we may witness a bullish bias in the coming hours by breaching 15,720 targeting 15,750 first targets, knowing that breaching the target level is a catalyst that enhances the chances of rising towards 15,785 next stop.

Activating the bullish scenario depends on trading remaining above 15,630. Note: the risk level is high.

S1: 15630R1: 15750
S2:  15570R2: 15785
S3: 15530R3: 15850

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