Noor Trends News, Technical Analysis, Educational Tools and Recommendations
In the previous session, the German DAX index declined significantly after failing to maintain trading above the support level published during the last analysis at 15,300. The decline below the mentioned level puts the price under strong negative pressure targeting 15,150, recording its lowest price of 15,123.
On the technical side, today, there is a possibility of resuming the decline as a result of moving below the 50-day moving average, in addition to stabilizing trading below the previously broken support 15,300.
Therefore, we may witness a visit to the 15,040 first target, and the decline below it may extend the index’s losses to visit 14,930 next stations, as long as the price is stable below 15,300.
Note: the level of risk is high
Note: Trading on CFDs involves risks. Therefore, all scenarios may be possible. This article is not a recommendation to buy or sell but rather an explanatory reading of the price movement on the chart.
| S1: 15040 | R1: 15350 |
| S2: 14930 | R2: |