German DAX Starts The Week on The Positive Side

The German DAX Index opened its first weekly trading with a bullish bias, heading to touch the first official goal mentioned in the previous analysis at 13,340, to post its highest level during the morning session at 13,361.

On the technical side, and with the index’s success in retesting the pivotal support level 13.220, in addition to the positive stimulus coming from the simple moving averages that continue to hold the price.

Thus, the bullish bias is likely today targeting 13,390 the first target, and its breach extends the gains to become 13,420 the second goal and may extend later towards 13,480.

Below 13,270 only delay the bullishness chances, and we may witness a bearish bias targeting 13,220 before rising again.

Warning: the level of risk may be high today.

S1: 13300	R1: 13390
S2: 13240	R2: 13420
S3: 13170	R3: 13480