German Dax Rebounding And Positivity Has Conditions

The bullish slant dominated the movements of the German DAX index within the expected bullish path during the previous analysis, touching the first target at 15,990 and approaching by a few points from the 2nd at 16,060, recording a high of 16,030.

On the technical side, the pair’s pivoting above the 15,930 support level supports the possibility of continuing the rise, in addition to the positive motive for the 50-day moving average.

Therefore, we tend to be positive, but on condition of confirming the break and stability of the resistance level 16,030, which is a catalyst that enhances the chances of touching 16,080 first target, and gains may extend to visit 16,130. However, trading below 15,930 cancells the suggested scenario, and we witness a bearish slope whose target is to retest 15,870 and 15,820.

Note: risk may be high.

Note: Stochastic tends to be negative intraday.

S1: 15930	R1: 16030
S2:  15870	R2: 16080
S3: 15820	R3: 16135