German Dax Starts Pressing Support

We stayed on the fence during the previous report due to the conflicting technical signals, explaining that activating the short positions requires a clear and robust break of the 15,790 support level, which puts the price under negative pressure with the first target at 15,745, to record 15,584.

Technically, with the continuation of the negative pressure coming from the simple moving averages and the stability of the intraday trading below the resistance level of 15,700.

This encourages us to maintain our negative outlook, but with caution, provided that we witness a clear and strong break of 15,590 to facilitate the task required to visit 15,520 as a first target.

Rising again above 15,700 will postpone the chances of the downside, and we may witness a bullish bias that targets a retest of 15,775.

Note: The risk level is high 

S1: 15520	R1: 15775
S2:  15420	R2: 15935
S3: 15260	R3: 16035