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German Dax Starts Positively

Adel 16 September, 2021 12:04 pm Daily Technical Analysis, Technical Analysis

The German DAX index touched our bearish targets at 15,645, heading towards the second target of 15,610.

Technically, the current moves are witnessing a slight bullish slope. We see that the index is trading above the 15,620 support level, accompanied by stochastic attempts to eliminate the present negativity.

Therefore, the bullish bias is likely in the coming hours, provided that 15,750 is breached, targeting 15,810 first target, then 15,880.

Activating the scenario as mentioned above requires daily trading to remain above 15,620, and breaking it would nullify the bullish scenario and put the index under negative pressure, targeting 15,550. Note: The risk level is high.

S1: 15620R1: 15750
S2:  15550R2: 15810
S3: 15490R3: 15880

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