DAX Tends to be Negative

The DAX suffered strong losses during the previous trading session within the bearish path, as we expected yesterday, touching our target 12795, posting low of 12575.

From a technical point of view, we find that the SMA continues to pressure the price from the top and support the downside. Consequently, we tend to the negativity provided breaking of 12690, and the most importantly, 12650, which facilitates the mission required to visit 12550 as a first target, followed by 12380.

Activating the suggested scenario depends on trading remaining below 12840, and breaking the aforementioned level will postpone the chances of a reversal. Warning: the RSI indicator began to provide positive signals on short intervals, which increases the possibility of a slight bullish slope during the coming hours, with the aim of re-testing 12840 before retreating again. Warning: the level of risk may be high

S1: 12550	R1: 12910
S2: 12380	R2: 13100
S3: 12190	R3: 13265