German Dax Maintains The Upward Trend

The positive attempts of the German DAX index continue and tend to positivity recording a high of 15626.

The daily trend is bullish as a result of the stability of the intraday trading above 15,550 and in general above the support floor of 15,500. The 50-day moving average still holds the price from below, supporting the continuation of the rise.

Therefore, the bullish bias is likely today, targeting 15,630, taking into account that the confirmation of breaching the mentioned level extends the gains of the indicator, so we are waiting for 15,670/15,680, a second target, and the gains may extend later to visit 15,720.

From below, confirmation of breaking 15,500 and stabilizing the price below it will immediately stop the bullish bias and lead the index to trade negatively, targeting 15,460 and 15410 respectively.

Note: the level of risk is high.

S1: 15550	R1: 15630
S2: 15500	R2: 15670
S3: 15460	R3: 15720