Open Demo Account
Home / Technical Analysis / Daily Technical Analysis / Germany’s Dax Continues to Post Gains
DAX, Europe, Stocks, Technical Analysis

Germany’s Dax Continues to Post Gains

Adel 17 November, 2020 11:52 am Daily Technical Analysis, Technical Analysis

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

Tags

Check Also

Oil faces negative pressure 14/11/2024

US crude oil futures have reached the official target outlined in our previous technical report, …

This site contains information and opinions for the purpose of providing only general information and can not be relied upon. The information and opinions contained in this Site shall in no way constitute an offer or solicitation to buy, sell or subscribe to any investment product. Users of this site shall bear any risks arising from the use of any information, opinion, program, service or material. Noor Trends reserves the right to make any change to the Site, the information, opinions, materials, products, programs, services or prices (if any) at any time without notice.
All copyrights reserved Noor Trends