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Dax Continues to Achieve Bearish Targets

Adel 28 October, 2020 11:01 am Daily Technical Analysis, Technical Analysis

The German DAX was able to touch the required levels mentioned in the previous analysis at 12030, posting a low of 11980.

Technically, the price was consolidating below the previously broken support level turned into resistance at 12180, in addition to the continuous pressure from the 50-day moving average.

This encourages us to hold onto our negative view, towards the second target of the previous analysis 11790/11800. Surpassing the resistance level 12185 negates the suggested scenario, and we may witness a re-test of 12265. Warning: the risk level might be high.

S1: 11895R1: 12185
S2: 11795    R2: 12365   
S3: 11615   R3: 12470   

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