Noor Trends News, Technical Analysis, Educational Tools and Recommendations
The German DAX index jumped as we expected, exceeding the first official target required to be touched during the previous analysis, which is located at 15,750, recording its highest level of 15,790.
Technically, we tend to continue rising, relying on the positive impulse of the simple moving averages, in addition to the positive signals coming from the RSI.
From here, and steadily trading above the support level of 15,550, the bullish bias is likely today, provided that we confirm the breach of 15,790, targeting 15,850 first target, then 15,900.
Trading below 15,550 postpones the chances of rising, and the index is witnessing negative pressure that aims to retest 15,440. Note: The risk level is high.
| S1: 15550 | R1: 15900 |
| S2: 15330 | R2: 16020 |
| S3: 15210 | R3: 16245 |
