German Dax Starts Positive

The German DAX index opened its first weekly trading with a bullish bias, taking advantage of building a base on the support floor 13,710/13,700.

On the technical side, and by looking at the 60-minute chart, we see signs of a positive crossover that started appearing on the stochastic indicator.

We tend to be positive in the coming hours, targeting 13,890 first targets, bearing in mind that crossing over to the aforementioned level increases the likelihood of continuing progress to visit 14,000.

Trading again below 13,700 negates the suggested bullish scenario and puts the price under negative pressure again, with initial targets starting around 13,650 and later extending towards 13,600.

S1: 13650	R1: 13890
S2: 13520	R2: 14000
S3: 13420	R3: 14130