German DAX May Witness a Temporary Decline

Mixed trades dominated the movements of the German DAX index during the previous trading session, to witness the morning movements of the index with a downward slope.

Technically, today we tend to see a bearish corrective bias on short time frames. RSI is stable below the mid-50 line, in addition to stochastic gradually losing its bullish momentum.

Therefore, the bearish bias is the most favorable, with trading remaining below 15,570, targeting 15,420 first targets, and then 15,360 next stops.

Only from the top, the crossing to the upside and rising again above 15,570 will lead the index price to the ascending official path again, with an initial target located around 15,660 initially.

Note: The level of risk may be high today.

S1: 15420	R1: 15570
S2: 15360	R2: 15660
S3: 15270	R3: 15720