Dax Continues to Achieve Bearish Targets

The German DAX index witnessed huge losses, exceeding the required targets during the previous analysis located at 11790/11800, to hit a low of 11440.

Technically, the daily trend is still bearish, but by looking closely at the 60-minute chart, we see that the positive signs have begun to appear on the stochastic indicator, in addition to consolidating above the support floor at 11440.

This increases the possibility of a slight bullish bias in the coming hours, targeting a re-test of the broken support-into-resistance 11750, and may extend to 11810.

Warning: the expected slight bullish path on short time frames does not contradict the downside, its targets start at 11360 then 11160, once 11440 has been broken. Warning: The risk level is still high.

S1: 11360	R1: 11835
S2: 11160	R2: 12115
S3: 10880	R3: 12310