German Dax Facing Negative Pressure

Negative trading dominated the German DAX index during the previous session, recording its lowest price at 15,613.

On the technical side today, the bearish trend still dominates the indicator, and the simple moving averages still support the bearish trend of prices.

With intraday trading stability below the resistance level of 15,830 and in general below 15,880, This encourages us to keep our negative expectations, knowing that the confirmation of breaking 15610 opens the door towards 15,530 and 15,450.

Rising above 15,880 is able to thwart the bearish scenario, and the index will recover temporarily, with a target of 15,965. Note: The risk level is high.

S1: 15665	R1: 15880
S2:  15530	R2: 15965
S3: 15450	R3: 16090