German Dax Settled Support Floor

The German DAX index found a strong resistance level around 15,640, which we mentioned during the previous analysis as a basic and important condition for the continuation of the rise.

On the technical side today, and carefully looking at the 60-minute chart, we find that the index is stable above the 15,530 support level and in general above 15,500 accompanied by the positive signs of the RSI.

Therefore, we will maintain our positive outlook, provided we confirm the breach of 15,640, targeting 15,675 first target, and then 15,730, respectively, knowing that confirming the breach of the last level extends the index’s gains to 15,820.

Only from below confirming the break and stability of the price below 15,500 is able to thwart any attempts to rise, and the indicator may witness strong negative pressure, with a target of 15,430 and extending to 15,375.

Note: The risk level is high.

S1: 15530	R1: 15675
S2: 15430	R2: 15730
S3: 15375	R3: 15825