Noor Trends News, Technical Analysis, Educational Tools and Recommendations
The German DAX index managed to touch the first target published during the previous analysis, at 16,050, to record its highest level of 16,065.
The current movements of the index are witnessing a decline as a result of hitting the resistance level 16,065 represented in the previous target, as we notice the negative features that started to appear on the RSI and the temporary loss of the bullish momentum.
Therefore, we may witness a bearish tendency in the coming hours to retest 15,940, knowing that breaking it increases the negativity, and the price may head towards 15,870.
Activating the suggested bearish tendency requires trading to remain below 16,065, knowing that its breach leads the index to recover again, with the first target of 16,130.
| S1: 15940 | R1: 16065 |
| S2: 15870 | R2: 16130 |
| S3: 15810 | R3: 16195 |
