German DAX: It May Witness a Positive Scenario

The German DAX index jumped, achieving substantial gains, recording its highest level at 15,840 after breaching the resistance level of 15,480.

Technically, we are inclined to the positivity, relying on the stability of trading above 15,480, accompanied by the positive motive of the 50-day moving average, and stochastic around the overbought areas.

Therefore, the bullish tendency is more likely today, but with caution, provided that the 15,840 breach is confirmed, and that is a catalyst that contributes to strengthening the index’s gains, so that the door is open to visit 15,940 and 16,070, respectively, unless we witness the return of trading stability again on 15,570 because breaking it increases the possibility of controlling the bearish trend with the goal of 15,480 .

Note: The risk level is high.

S1: 15570	R1: 15940
S2:  15350	R2: 16070
S3: 15210	R3: 16295