German Dax returns to gains 20/4/2022

We adhered to intraday neutrality during the previous analysis, explaining that the confirmation of the breach of the resistance level of 14,050 extends the index’s gains to visit 14,200, 14,290 touches the first target the index reaches the highest 14,257.

On the technical side, today, we believe that the bullish trend is the most preferred, based on the positive stimulus coming from the 50-day simple moving average and the price’s pivoting above 14,130, targeting 14,340, a first target. Its breaching enhances the index’s gains, opening the door to 14,425 as long as the price is stable above 14,130.

Trading below 14,130 postpones the chances of rising, and we may witness a retest of 14,085.

Note: The risk level is high.

Note: CFD trading involves high risk; all scenarios may occur.

S1: 14085	R1: 14340
S2: 13920	R2: 14425
S3: 13835	R3: 14590