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DAX, Stocks, Europe, Technical analysis

Dax Continues to Hold Back

Adel 25 March, 2021 11:58 am Daily Technical Analysis, Technical Analysis

The German DAX index succeeded in achieving the negative outlook, as we expected, touching our target 14,530, recording its lowest price, 14,530.

On the technical side today, we are continuing to suggest the bearish trend, relying on trading stability below the previously broken support 14,610/14,630, accompanied by negative pressure for the 50-day moving average.

Therefore, we target 14,525 first and then 14,470 next stations, and breaking it extends losses to visit 14,410. Activating the bearish scenario depends on trading remaining below 14,630. Note: The level of risk is high.

S1: 14525R1: 14610    
S2: 14470    R2: 14670   
S3: 14410   R3: 14710   

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