German Dax is Trying to Build on Support 18/1/2022

Positive movements are trying to control the German DAX index, taking advantage of the intraday stability above the support floor of 15,880.

On the technical side, we tend to the limited positivity, but with great caution, relying on the attempts of the RSI to obtain positive signs and stabilize trading above the aforementioned support level.

Therefore, the bullish bias may be more likely, provided that the index breaches the resistance level 15,965, and that may enhance the chances of a rise towards 16, 000, and gains may extend later towards 16050.

Trading below 15,880, puts the price under negative pressure, and we may witness a retest of 15,840 and 15,800, respectively.

Note: the level of risk is high.

S1: 15880	R1: 15965
S2: 15840	R2: 16000
S3: 15800	R3: 16050