DAX Tends to be Negative Waiting For Pending Orders

The DAX declined significantly to negate the positive outlook, as we expected. We indicated in the previous report that trading below 13035 and the most important 12990 negates the bullish scenario and puts the price under negative pressure. Its initial targets are 12920, recording its lowest price, 19240, and compensating for a large part of long position losses.

From a technical point of view, and on medium time intervals, there is a possibility to continue declining, with the continuation of the negative pressure coming from the simple moving averages, in addition to trading below 13150.

We tend to be negative, but on condition that we witness a clear break of the support level of 1290/12920, the door opens directly towards 12820, and losses may extend towards 12700.

From the upside, confirmation of breaching 13150 is able to negate the bearish trend and restore the index to rise again, with an initial target of 13230.

Warning: the level of risk may be high and not commensurate with the expected return, please adhere to the risk criteria.

S1: 12900	R1: 13110
S2: 12820	R2: 13230
S3: 12695	R3: 13320