German Dax Faces Temporary Negative Pressure

The German DAX index managed to touch the second target to be touched during the previous trading session, at 15,310, to hit its highest level at 15,337.

On the technical side, the current trading of the index is witnessing a bearish bias, after it found a strong resistance level around the published target. Intraday trading below 15,310 accompanied by the negative pressure of the 50-day moving average, which coincides with the relative strength index losing the bullish momentum gradually.

Therefore, the bearish bias is likely in the coming hours, with the aim of retesting 15,150, and then 15,085 the next stop.

Exceeding to the upside and rising again above 15,310 will stop the bearish tendency immediately and lead the index to the official bullish path with the target of 15,400 and extend later towards 15,460.

Note: The risk level may be high today.

S1: 15150	R1: 15310
S2: 15085	R2: 15400
S3: 14990	R3: 15465