German DAX Makes Notable Gains

The German DAX index managed to achieve decent gains during the previous trading session, attacking the psychological barrier of 16,000. On the technical side, today’s movements are witnessing an upward bias on positive stimulus from the 50-day moving average, in addition to the stability of trading above 15,750.

Therefore, we may witness a bullish bias in the coming hours, provided that we confirm the breach of the 15,890l, targeting 159,40 first target, and then 16,000, targets may extend later to visit 16,130.

The breach of 15,750 negates the bullish scenario completely, and we will witness a retest of 15,630. Note: The possibility of covering the price gap is available. Warning: The level of risk is high.

S1: 15750	R1: 16000
S2:  15630	R2: 16130
S3: 15505	R3: 16260