German DAX: Settled Below Resistance

Negative trading has regained control of the German DAX index after achieving strong gains over several consecutive sessions, to witness the stability of the current move below the previously broken support-into-resistance 14,070.

With a closer look at the 60-minute chart, we find the RSI is stable below the midline of 50. Therefore, we may witness a bearish tendency in the coming hours, targeting 13,995/13,990 a first goal, and 13,955 after it.

Trading again above 14,110 negates the suggested scenario, and the index will regain the official bullish path with an initial target of 14,170 and then 14,210.

Note: The level of risk may be high today.

S1: 14065	R1: 14150
S2: 14020	R2: 14185
S3: 13960	R3: 14230