German DAX Settled Below Resistance

The German DAX index achieved the official bearish target of 15,520 to record its lowest level at 15,447.

On the technical side, the 50-day moving average still constitutes an obstacle to the index, in addition to stabilizing trading below the 15,650 resistance level. Therefore, we tend to be negative, but with caution, provided that the 15,450 breaks are confirmed to facilitate the task required to visit 15,325, and losses may extend later towards 15,200.

Skipping upwards and rising again above 15,650, and most importantly 15,690, will immediately stop the bearish scenario, and the index will recover again, waiting to touch 15,820 and 15,880.

Note: The risk level is high.

S1: 15450	R1: 15690
S2:  15325	R2: 15820
S3: 15200	R3: 15930