Dax Starts Pressing Support

The German DAX index failed to confirm breaching the resistance level published during the last report located at 16,110, which forced the index to trade negatively again.

On the technical side, we tend to be negative, but with caution, relying on the price stability below 16,110, in addition to the negative pressure of the 50-day moving average, which continues to form an obstacle to achieving more rise.

Therefore, we are targeting in the coming hours 16,030 the first target, and then 16,000 following stations whose losses may extend later to visit 1,5970. From the top, the return of stability above 16,110 negates the suggested scenario, and we witness an intraday bullish path with its target of 16,200. Note: The risk level is high.

S1: 16060	R1: 16110
S2:  16030	R2: 16160
S3: 16000	R3: 16200