Dax Continues to Hold Back

The German DAX index succeeded in achieving the negative outlook, as we expected, touching our target 14,530, recording its lowest price, 14,530.

On the technical side today, we are continuing to suggest the bearish trend, relying on trading stability below the previously broken support 14,610/14,630, accompanied by negative pressure for the 50-day moving average.

Therefore, we target 14,525 first and then 14,470 next stations, and breaking it extends losses to visit 14,410. Activating the bearish scenario depends on trading remaining below 14,630. Note: The level of risk is high.

S1: 14525	R1: 14610
S2: 14470	R2: 14670
S3: 14410	R3: 14710