Germany’s DAX makes remarkable gains 18/5/2022

The German DAX index on the Frankfurt Stock Exchange touched our first awaited at 14,175 and is approaching by a few points from the second target of 14,260, recording a high of 14,242.

Technically, we are inclined to the positivity, relying on the index’s pivot above the previously breached resistance-into-support at 14,110, accompanied by the positive motive of the 50-day moving average.

Therefore, the bullish scenario is preferred, targeting 14,310 initial stations. Its penetration increases and accelerates the strength of the bullish bias to be open to the index to visit 14370.

The decline below 14,110 will postpone the chances of rising, and we may witness a bearish slope that aims to retest 13,980 and 13,910 respectively.

Note: the level of risk may be high

S1: 14110	R1: 14310
S2: 13980	R2: 14370
S3: 13910	R3: 14505