German Dax: Retests Resistance 20/1/2022

The German DAX index continued declining within the expected bearish path, touching the first target required to be achieved during the last analysis, at 15,640, recording its lowest level at 15,613.

On the technical side today, we notice the continuation of the negative pressure from the 50-day moving average, in addition to the price’s pivot below the 15,890 resistance level.

Therefore, we may maintain our negative expectations, provided we confirm breaking 15,620 to target 15,475 first target, and losses may extend later to visit 15,350 as long as the price is stable below 15,890.

The return of trading stability above the aforementioned resistance is able to thwart the bearish scenario and lead the index to regain its health to retest 16,030 and 16,090.

Note: the level of risk is high.

Note: CFD Trading involves risks, all scenarios are open.

S1: 15620	R1: 15890
S2: 15475	R2: 16030
S3: 15345	R3: 16170