Dax Faces Negative Pressure

The German DAX index succeeded in achieving the goal of re-testing the support mentioned in the previous analysis at 13,820, recording the lowest price at 13,826.

On the technical side, the current trading of the index stabilizes below the 14,000 psychological barriers, accompanied by the negative signs of the RSI on short time frames.

Consequently, we may witness a downward slope during the coming hours, with the first target of 13,820 and then 13,740 next stops. From the top, the return of trading to stability above 14,000 will stop the expected bearish scenario and lead the index to an upside path targeting 14,070 and 14,130, respectively.

Note: the level of risk may be high today.

S1: 13820	R1: 13985
S2: 13740	R2: 14070
S3: 13660	R3: 14145