German DAX: May Witness a Negative Bias

The German DAX index declined significantly. surpassing the official target required to be achieved during the previous analysis at a price of 13,955, recording the lowest 13,874.

Technically, we tend to be negative in our trades, but cautiously, depending on trading stability below the previously broken support-into-resistance at 13,990, accompanied by the continued negative pressure on the index from the 50-day moving average.

Therefore, we may witness negative movements during the coming hours targeting 13,850 and breaking it increases and speeds up and confirms the strength of the daily bearish trend, targeting 13,770 next.

Activating the bearish scenario requires stability below 13,990. Note: the level of risk may be high today.

S1: 13850	R1: 14040
S2: 13770	R2: 14145
S3: 13665	R3: 14225