German Dax: Negative Pressure is in Place 19/1/2022

The German DAX index failed to achieve the temporary positive outlook published during the previous analysis. We mentioned that breaking 15,880 puts the index’s price under intense negative pressure, targeting 15,800, to record the lowest price of 15,655.

Technically, and carefully looking at the 4-hour chart, we notice that the stochastic is losing bullish momentum, in addition to the continuation of moving below the simple moving averages.

The bearish bias may be the most likely today, targeting 15,640, and losses may extend later to visit 15,530 as long as the price is below the previously broken support at 15,885.

Note: the level of risk is high.

S1: 15645	R1: 15885
S2: 15530	R2: 16000
S3: 15410	R3: 16120