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The German DAX index fell on the Frankfurt Stock Exchange after it failed to maintain trading above the support level published during the previous analysis at 14,060, explaining that trading below this level leads the index to achieve losses starting at 13,860, recording its lowest level at 13,790.
Technically, we tend to the negativity, relying on the index’s pivot point below the 13,920 resistance level, accompanied by the continuation of the negative pressure coming from the 50-day moving average.
Therefore, the possibility of continuing the decline remains valid and effective, provided that we witness a clear and strong break of the 13,790 support level, paving the way for the index to achieve more losses towards 13,665, an initial target that may extend later to visit 13,460 as long as the price is generally stable below 14,100.
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