German DAX Looking For Signal to Confirm The Direction

Mixed trading continues to dominate the movements of the German DAX index, confined between 15,790 and 15,910.

On the technical side today, and with a careful look at the 60-minute chart, we find positive attempts by the RSI to gain bullish momentum. On the other hand, the 50-day moving average is still an obstacle that prevents the index from rising.

We will stand on the sidelines until the trend becomes clearer in a more accurate way, to be in front of one of the following scenarios:

Activating long positions requires trading stability above 15,790, as we need to witness the breach of 15,910, which is a catalyst factor that increases the possibility of touching 15,970 and 16,20. On the other hand, activating short positions requires a clear and strong break of the 15,790 support level, which puts the price under negative pressure, its targets starting at 15,745 and extending later towards 15,860.

Note: The risk level is high.

S1: 15790	R1: 15910
S2:  15745	R2: 15970
S3: 15680	R3: 16020