DAX Loses Bullish Momentum

The German DAX index managed to touch the target published in the previous analysis, at 15695, recording its highest level at 15,692.

Today, with a closer look at the 60-minute chart, signs of negativity started appearing on Stochastic, gradually losing the bullish momentum, and this comes in conjunction with the negative signals coming from the RSI. Therefore, we may witness a bearish bias in the coming hours, targeting a retest of 15,500 and 15,480.

Skipping upwards and climbing above 15,610 is able to thwart the temporary bearish bias and lead the index to the official ascending path, with a target of 15,700.

. Warning: The level of risk is high.

S1: 15480	R1: 15700
S2: 15365	R2: 15810
S3: 15260	R3: 15925