Dax Towards Negativity

The German DAX managed to touch our first target at 12990, to return to trading negatively. The technical side indicates the possibility of continuing the decline, with trading remaining below the previously broken support level 12880 and the most important 12920, in addition to the index continuing to have negative pressure coming from its simple moving averages.

Therefore, the bearish bias is likely today, targeting 12610 and extending later to the targets 12550. The return of stability above 12920 negate retreat attempts and the index begins to regain its losses with initial targets starting at 13130.