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