Dax Suffering Strong Losses And Selling Pressure Continues

The German DAX index suffered big losses within the negative outlook mentioned in the previous analysis, touching our targets located at 15,260, to record the lowest at 15,120.

On the technical side today and with the continued negative pressure coming from the simple moving averages, in addition to trading stability below the breached support level 15,350.

The bearish bias is likely targeting 15,060 an initial official station that may extend later towards 14,960. The bearish scenario requires stability below 15,350, and its breach will negate the retreat attempts, and we will witness a bullish bias with an initial target of 15,530.

Note: The level of risk may be high today.

S1: 15330	R1: 15495
S2: 15260	R2: 15585
S3: 15160	R3: 15660