German DAX suffers strong losses 27/4/2022

During the last analysis, strong negative movements dominate the German DAX within the expected strong bearish track, to witness the stability of the current movement around its lowest level 13,647.

Technically, we are inclined to the negativity, relying on the stochastic positioning around the oversold areas and the continuation of the negative pressure coming from the 50-day moving average.

Therefore, the bearish scenario may remain valid and effective, targeting 13,500 and 13,470, respectively, considering that trading below 13,170 extends the index’s losses, opening the door towards 13,295 unless we witness any trading and consolidation for the price above 13995.

Note: The risk level is high.

Note: CFD trading involves high risk; all scenarios may occur.

S1: 13470	R1: 13995
S2: 13295	R2: 14345
S3: 12950	R3: 14520