German DAX Witnesses Gains and Maintains Positive Outlook

Positive trading dominated the German DAX index within the expected bullish path we mentioned in the previous analysis, and reached the target level of 12870, posting a session high at 12870.

Technically, the intraday trading is holding above 12770 and generally above 12710/12735 with positive signals from the 50-day moving average.

We encourage maintaining our positive outlook targeting 1.2895 / 12890 as a preliminary level, its targets extend to 12965. Consolidation above 12710 is essential for this scenario, trading below this level will halt attempts to rise and put the price under strong negative pressure, targets around 12640, followed by 12570.

Warning: The level of risk may be high

S1: 12735	R1: 12895
S2: 12640	R2: 12965
S3: 12570	R3: 13060