German DAX is Facing Negative Pressure

Positive trades dominated the movements of the German DAX index, recording its highest level at the end of last week’s trading at 15,432.

Technically, we tend to the negativity, but with great caution, relying on the stability of trading below the resistance level 15,250, in addition to the negative pressure and the simple moving average.

Therefore, the bearish tendency is likely today, provided that the 15,080 breach is confirmed, putting the index price under intense negative pressure, with an initial target of 15030 and 14870, respectively.

The suggested bearish scenario depends on the price remaining below 15,250, and most importantly 15,290 because the latter’s breach can completely thwart the suggested scenario. As a result, the index will witness a positive trading session, with its initial target of 15380.

Note: The risk level is high

S1: 15030	R1: 15380
S2:  14870	R2: 15580
S3: 14680	R3: 15730