German DAX Based on Support

The German DAX index suffered heavy losses during the previous session, after confirming the breach of the strong support level at 13,800.

On the technical side, the negative pressure coming from the 50-day moving average is accompanied by the stability of the RSI indicator below the middle line.

This increases the probability of continuing the decline, targeting 13,370 the first target, knowing that confirming the breach of the aforementioned level leads the price to visit 13,220. Activating the suggested scenario requires stability below 13,780.

Note: the risks are high today.

S1: 13370	R1: 13780
S2: 13215	R2: 14025
S3: 12970	R3: 14180