German Dax Starts With a Positive Moment

The German DAX index touched the awaited target during the last trading session at 14,980, to record its lowest price of 14,988.

On the technical side today, by looking at the 60-minute chart, we notice the 50-day moving average trying to push the price to the upside, in addition to stabilizing the intraday trading above the support level of 15,040.

Therefore, there is a possibility to witness a slight bullish bias in the coming hours, targeting to retest the previously broken support level, which is now converted to the resistance level of 15,235, a first target, knowing that breaching the latter may contribute to consolidating the gains towards 15,330.

The return of trading stability below 15,040 will immediately stop any attempts to rise and lead the index to the official descending path, with targets starting at 14,910 and extending later towards 14,840.

Note: the level of risk is high.

S1: 15040	R1: 15235
S2:  14910	R2: 15310
S3: 14840	R3: 15430