German Dax Extend Losses 22/2/2022

The German DAX index started its daily trading with a strong bearish tendency, achieving losses below the 14500 barrier, recording a low at 14,380.

Technically, the price built below the previously broken support-into-resistance 14,500, in addition to the negative pressure of the simple moving averages that support the daily bearish price curve.

This increases the possibility of continuing the decline in the coming hours to visit 14150, knowing that price stability below the mentioned target extends the index’s losses, paving the way to visit 14,100 initially.

The stability below 14,500 is an important and basic condition for the proposed scenario. Rising upwards may postpone the idea of ​​descending and lead the index towards 14,600.

Note: the risk level is high

Note: Trading on CFDs involves risks. Therefore, all scenarios may be possible. This article is not a recommendation to buy or sell but rather an explanatory reading of the price movement on the chart.

S1: 14150	R1: 14995
S2: 13480	R2: 15540
S3: 13310	R3: 15840