German Dax Rises Amid Waiting For Results of Presidential Election

The German DAX jumped in the previous trading session, posting strong gains, touching 12354.

Technically, looking at the 60-minute chart, we see the SMA 50 holding the price in addition to consolidating above the previously broken resistance 12100.

Consequently, we may witness continued bullish attempts, which are confirmed by breaching 12350, to reinforce the chances for the upside towards 12470. The expected bullish trend depends on consolidating above 12100, and breaking it is capable of stopping the bullish attempts, and we may witness a visit to 11870.

Warning: The level of risk is high and all scenarios are on the table, with the results of the US elections awaiting.

S1: 11895	R1: 12470
S2: 11540	R2: 12710
S3: 11315	R3: 13060