Germany’s DAX makes notable gains 29/3/2022

The German DAX index jumped, achieving noticeable gains, as we expected, touching our awaited target of 14,555 to record its highest level, 14,644.

On the technical side, today, we tend to the positivity, relying on the stability of trading above the support level of 14,360 and the positive stimulus coming from the 50-day moving average.

Therefore, confirmation of the breach of 14,645 extends the gains of the index to be waiting for 14,690 first target, and its breach increases the strength of the daily bullish trend to visit 14,830 next stations as long as the price is stable above 14,360.

The price moving below 14,360 will immediately stop the suggested scenario and put the index under negative pressure to retest 14,170.

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: 14360	R1: 14690
S2: 14170	R2: 14830
S3: 14040	R3: 15025