German Dax Hits Resistance

The movements of the German DAX index witnessed a bearish tendency as a result of hitting the resistance level 15,240, which forced the index to trade negatively again, stable around its lowest level during the session at 15,200.

Technically, and with careful consideration on the short time frames, we notice that the RSI significantly lost the bullish momentum. That increases the possibility of witnessing a bearish bias in the coming hours, targeting 15125, the first target.

To warn that activating the proposed scenario requires stability below 15,240, and most importantly 15,270.

Note: the level of risk is high.

S1: 15125	R1: 15270
S2:  15040	R2: 15330
S3: 14975	R3: 15420