German Dax trying to build on support 9/5/2022

The German DAX index managed by the end of last week’s trading to touch the first target at 13,665, recording its lowest level at 13,586, trying to benefit from the demand areas around this level.

On the technical side, the current movements of the indicator on the short time frames are witnessing a limited bullish tendency as a result of the price’s confluence on the support floor of 13,540, accompanied by the attempts of the stochastic indicator to obtain temporary bullish momentum.

We may witness a limited bullish slope in the coming hours to retest 13,850, knowing that the bullish bias does not contradict the daily bearish trend, which targets around 13,410 once 13,540 is broken.

Note: the level of risk may be high.

S1: 13540	R1: 13850
S2: 13410	R2: 14030
S3: 13230	R3: 14165