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German Dax Starts Positive

Adel 14 October, 2021 12:11 pm Daily Technical Analysis, Technical Analysis

Positive trades dominated the movements of the German DAX index to record its highest level during the previous trading session at 15,285.

On the technical side today, we notice that intraday trading tends to be positive due to the index’s bullish momentum from the RSI and the stability of the intraday trading above 15140.

We may witness a bullish bias in the coming hours, targeting 15,330, and gains may extend towards 15,400 before retracing, knowing that the aforementioned limited bullish bias does not contradict the general bearish trend, which its negative targets start around 15,020 and 14,950 as soon as 15,140 is broken.

Note: The risk level is high.

S1: 15140R1: 15335
S2:  15020R2: 15410
S3: 14945R3: 15525

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