DAX is Negative And Waiting For Pending Orders

The movements of the German DAX index witnessed a bearish tendency, recording its lowest level during the previous trading session 15698.

On the technical side today, there is a conflict between the negativity of the simple moving averages, the positive RSI attempts, and the stability of the intraday trading above 15690.

We will stand aside until the direction becomes clearer more precisely, waiting for one of the following scenarios: Activating short positions requires witnessing a clear and strong break of the 15,690 support level, targeting 15,640 and 15,600, respectively.

Activating long positions requires a breach of 15,790 with a target of 15,840, and gains may extend later towards 15,880. Warning: The level of risk is high and is not commensurate with the expected return.

S1: 15690	R1: 15790
S2:  15640	R2: 15840
S3: 15600	R3: 15885