German Dax Starts Positively

The German DAX index witnessed positive trading within the expected bullish path, touching the first target at 15,780 and approaching the second target of 15,860, recording the highest of 15,840.

Technically, we find the 50-day moving average that supports the rise, in addition to the positive signals coming from the RSI, which continues to receive bullish momentum signals.

With the stability of intraday trading above the support level of 15,750, the bullish bias is likely today, targeting 15,860 first target, knowing that breaching the mentioned level will extend the index’s gains, so we will be waiting for touching 15,910.

Trading below 15,750 negates the suggested bullish scenario and puts the index under negative pressure to retest 15,680, and losses may extend towards 15,630. Note: the risk level is high.

S1: 15750	R1: 15860
S2:  15680	R2: 15910
S3: 15630	R3: 15975