German DAX Maintains Bullish Stability

The German DAX index managed to touch the first target that is required to be achieved during the previous technical report, located at the price of 15,595, to record its highest level at 15,611.

Today’s technical aspect indicates the possibility of continuing the rise, relying on the stability of the daily trading above the support level of 15490, which is constantly counted, as the index obtained a positive stimulus from the simple moving averages.

A breach of 15610 extends the index’s gains to visit 15,650 first target, and gains may extend later to visit 15,710. Breaking 15,490 will immediately stop the bullish bias and we witness negative trading targeting 15400. Note: The risk level is high.

S1: 15495	R1: 15650
S2: 15400	R2: 15710
S3: 15335	R3: 15800