German Dax Returns to The Bullish Rebound

Positive trading re-dominated the movements of the German DAX index, recording its highest level during the early trading of the current session at 15,637.

On the technical side, by looking at the 60-minute chart, we find that the RSI continues to defend the bullish trend within attempts to obtain bullish momentum, in addition to the stability of the index price above the support level of 15,375.

Therefore, the bullish bias is the most preferred today, provided that the breach of 15,640 is confirmed, targeting 15m745 first target, and its breach extends the gains of the index so that the road is directly open towards 15,870.

From the downside, breaking 15,375 is capable of thwarting the bullish scenario, and putting the index price under strong negative pressure, with a target of 15,190 and 15,140, respectively.

Note: the level of risk is high.

S1: 15645	R1: 15770
S2: 15570	R2: 15820
S3: 15520	R3: 15890