Germany’s Dax is trying to get more momentum 28/3/2022

The German DAX index witnessed positive trading last Friday, as we expected, surpassing the target to be touched at 14,430, recording the highest at 14,444.

Technically, and carefully looking at the 4-hour chart, we notice the 50-day moving average that has returned to hold the price from below. We also found positive signs that started to appear on the stochastic indicator.

With intraday trading stability above 14و295, the daily trend may be bullish, but we need to witness a clear and strong breach of the 14,440 resistance level to visit 14,480 first target and then 14,550 next station as long as the price is stable above 14,295.

Attempts to break 14,295 put the index price under negative pressure, targeting a retest of the pivotal support of 14,190.

Note: The risk level is high

Note: Trading on CFDs involves risks. Therefore, all scenarios may be possible. This article is not a recommendation to buy or sell but rather an explanatory reading of the price movement on the chart.

S1: 14295	R1: 14480
S2: 14190	R2: 14555
S3: 14110	R3: 14665