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German Dax Presses Support

Adel 26 August, 2021 12:03 pm Daily Technical Analysis, Technical Analysis

Negative trading dominated the movements of the German DAX index after it found a strong resistance around 15,930 to witness the current movement’s pressure on the 15,830 support level.

On the technical side, the 50-day moving average pressures the price from the top, accompanied by the stability of the RSI below its mid-line.

Therefore, there is a possibility of a bearish bias in the coming hours, targeting 15,800 and 15,760, respectively. The bearish bias requires the price to remain below 15,930. Note: The risk level is high.

S1: 15800R1: 15895    
S2:  15760    R2: 15960   
S3: 15700   R3: 16000   

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