Dax Hits The Resistance

The primary resistance levels published during the technical analysis yesterday, represented by our first target for the DAX index at 16,190, were able to limit the bullish bias, forcing the index to trade negatively again after touching the required target.

On the technical side, we tend to be negative in the coming hours, based on the stochastic losing the bullish momentum, in addition to the negative pressure of the 50-day moving average.

From here, intraday trading is below the 16,120 resistance level, and in general, below 16,160, the bearish bias is likely, targeting 16,010 first target, and breaking it increases the chances of touching the price target of 15,960.

Note: The risk level is high.

S1: 16010	R1: 16160
S2:  15960	R2: 16250
S3: 15870	R3: 16300