Germany’s Dax Continues to Post Gains

The German DAX is trading on the positive side, surpassing yesterday’s goal at 13230, reaching a high of 13270.

Technically, price anchoring above previously breached resistance in addition to the positive catalyst from the simple moving averages that continue to hold the price.

This encourages us to maintain the positive outlook, targeting 13260 as a first target, knowing that the price breach the aforementioned level enhances the chances of an upside move towards 13370, the next leg.

Trading below 13050 negates the suggested scenario and puts the price under temporary negative pressure towards 12960. Note: the risk level is still high.

S1: 13060	R1: 13260
S2: 12960	R2: 13370
S3: 12850	R3: 13465