German DAX Retest the Resistance

The current movements of the German DAX index are witnessing a slightly bullish bias, benefiting intraday from building on the support level of 13,350.

On the technical side, the 50-day moving average is trying to push the price to the upside. Nevertheless, we tend to be negative, depending on the negativity of the stochastic, which began to lose the bullish momentum.

We are targeting 13,360 as a first target, and breaking it puts the price under strong negative pressure, its target around 13320. Surpassing the resistance level at 13,540 is capable of negates the suggested bearish scenario, and we may witness a bullish intraday path targeting 13,650.

S1: 13320	R1: 13545
S2: 13220	R2: 13680
S3: 13090	R3: 13775