German Dax Looking For Signals

Mixed trading dominates the movements of the German DAX index, trying to repeat the chances of the bullish attack to the upside, recording its highest price of 15,698.

On the technical side today, and by looking at the 60-minute chart, we notice the RSI’s attempts to gain bullish momentum, in addition to the index’s attempts to trade above the 50-day moving average.

With the price stability intraday above the 15,740 support level, we may witness a bullish bias, but on the condition that we witness a clear and strong breach of the resistance level 15,700, which may open the door towards 15,810/15,800 as a next station.

To remind you that activating the suggested bullish bias depends on trading stability above 15,470. Note: The level of risks is high.

S1: 15470	R1: 15695
S2:  15360	R2: 15810
S3: 15240	R3: 15930