German Dax Continues to Move Negatively

As we expected during yesterday’s technical report, the German DAX index declined within the bearish path, touching the first awaited target at 16,000, recording the lowest of 15,999.

On the technical side, today, we are inclined to the negativity, relying on the clear negative signs on stochastic and losing the bullish momentum and the stability of the intraday trading below the resistance level 16,085.

Therefore, the formation of the negative attack is more likely, targeting 15,980 and 15,940 respectively, knowing that breaking the latter extends the index’s losses, opening the way towards 15,890.

Trading and the price settled above 16,085 delays the chances of the above-suggested scenario but does not cancel it, and we will witness a temporary upward path; its initial target is 16,140. Note: The risk level is high.

S1: 15980	R1: 16085
S2:  15940	R2: 16140
S3: 15890	R3: 16180