German Dax, Virtually Unchanged

The technical outlook remains unchanged, as the German DAX maintains positive side. Technically speaking, the index managed to build a base on support floor of 13035/13030, which was accompanied by the positive motive of the 50-day moving average.

It encourages us to maintain our positive view, as long as the breach of 13170 is confirmed, which enhances the chances of a bullish move towards 13220, the first target, and gains may extend later towards 13290.

Breaking the support floor of 13030 is capable of negates bullish attempts to puts the index under negative pressure targeting a re-test of 12970.

Note: The level of risks may be high today.

S1: 13055	R1: 13170
S2: 12975	R2: 13220
S3: 12940	R3: 13290