Noor Trends News, Technical Analysis, Educational Tools and Recommendations
The German DAX index managed to build on the support level 15,500 to start its daily trading with an upward bias and hovering around its highest level during the morning trading session around 15,640.
Technically, we may witness a bullish bias in the coming hours, based on the positive signs of the RSI and its stability above the mid-line 50, in addition to the index’s stability above the support level of 15,550.
Therefore, the bullish bias is likely today, targeting 15,685, a first target, considering that its breach is a catalyst that increases the strength of the bullish bias to visit 15,730.
The infiltration below the support level 15,550 invalidates the suggested bullish scenario and puts the index price under negative pressure again, with a target of 15,465 initially. Note: The risk level is high.
| S1: 15550 | R1: 15685 |
| S2: 15465 | R2: 15730 |
| S3: 15420 | R3: 15820 |
