German Dax: Facing Negative Pressure 27/1/2022

The German DAX index witnessed a negative trading session after it found negative pressure to hit the resistance level 15,540, which forced it to retest 15,185.

On the technical side, today, we tend to the negativity, considering that the RSI gained more bearish momentum due to stabilizing below the mid-line 50, in addition to the price’s pivot below 15,400, and most importantly 15,440.

Therefore, we may witness a bearish tendency in the coming hours, knowing that breaking 15,180 will facilitate the mission required to visit 15,005 first target, and losses may extend to visit 14,830.

Trading above 15,440 will stop the suggested scenario, and we will witness a temporary bullish bias with an initial target is to retest 15,540.

Note: The level of risk may be high.

Note: CFD Trading involves risks, all scenarios are open.

S1: 15180	R1: 15540
S2: 15005	R2:  15720
S3: 14830	R3: 15895