Noor Trends News, Technical Analysis, Educational Tools and Recommendations
The German DAX index succeeded in touching the first target published during the previous analysis, at 15,640, recording its highest level at 15,650.
On the technical side today, there is a conflict between the stochastic attempts to obtain positive crossover signals, and the negative pressure coming from the simple moving averages.
Therefore, we will stand aside to be in front of one of the following scenarios: Activating long positions requires breaching 15,600 to target 15,635, and then 15,710.
Activating short positions requires that we witness a clear and strong break of the support level 15,500, and from here the DAX is witnessing a bearish tendency, with a target of 15,445, and then 15,370. Warning: The risk level is high.
| S1: 15500 | R1: 15635 |
| S2: 15445 | R2: 15710 |
| S3: 15370 | R3: 15760 |
