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German Dax Facing Selling Pressure

Adel 15 September, 2021 11:59 am Daily Technical Analysis, Technical Analysis

The current movements of the German DAX index are witnessing a bearish tendency after it failed to stabilize above the 15,750 resistance level.

Technically, today we tend to the negativity, relying on the negative pressure coming from the simple moving average that continues to pressure the price and RSI below its mid-line.

Therefore, confirmation of breaking 15,700 increases the strength of the daily bearish trend to open the door to 15,645, the first target, and then 15,600.

The bearish scenario requires trading to remain below 15,750. Note: The risk level is high.

S1: 15645R1: 15750
S2:  15600R2: 15810
S3: 15540R3: 15850

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