Germany’s Dax Consolidates Gains

The German DAX managed to achieve the expected positive outlook, touching the official target required to be achieved in the previous session at 12470, peaking at 12580.

The technicals are indicating the possibility of resuming the rally, given the price consolidating above the previously breached resistance turned into support at 12360 with the positive catalyst from the 50 SMA holding the price.

From here, the bullish scenario will remain intact targeting 12620/12600, bearing in mind that the breach of the aforementioned level extends gains to open the way towards 12730.

Returning price stability below 12365 forces the index to re-test 12220. Warning: The risk level may be high.

S1: 12365	R1: 12620
S2: 12220	R2: 12730
S3: 12110	R3: 12880