German DAX: Positivity Needs to be Confirmed

The German DAX index achieved noticeable gains, cancelling the negative outlook expected during the previous analysis, and as we indicated yesterday that crossing to the upside and rising again above 13,980 will renew the chances of an upside move towards 14,055, to reach a high of 14,042.

Technically, we tend to be positive on short time frames, relying on the return of trading stability above the pivotal support 13,950 accompanied by the positive motivation of the 50-day moving average. Confirmation of breaching 14,075 is a positive factor that could motivate the price to visit 14,125 and may extend later towards 14,175.

Breaking 13,950/13,935 will immediately stop the current bullish attempts, and we will witness the bearish trend dominating again with the target of 13,850.

Note: The risk level may be high today.

S1: 13935	R1: 14075
S2: 13850	R2: 14125
S3: 13790	R3: 14215