German Dax is gradually declining 7/4/2022

The German DAX index incurred strong losses during the last session’s trading, after it succeeded in breaking the support of 14,350, we made it clear that will extend losses and open the door to 14,285 and 14,185, respectively, to record its lowest price of 14,041.

Technically, we notice positive crossover signs that started appearing on stochastic, accompanied by the intraday stability of the index price above the support level of 14,040, and that might support the possibility of a slight bullish slope that targets retesting 14,390 before retracing.

Note: the bullish bias does not contradict the daily bearish trend, with official targets are around 13,985 & 13,820 once the 14,040 break is confirmed.

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: 13985	R1: 14395
S2: 13810	R2: 14630
S3: 13575	R3: 14810