German DAX Settled Below Resistance

The German DAX index managed to retest the resistance level at 15,360, the first target, recording the highest 15371.

On the technical side, the current movements of the index are witnessing negative pressure as a result of trading stability below 15,340, and most importantly, 15,360, in addition to the negative pressure coming from the 50-day moving average.

Therefore, the bearish tendency is likely today, knowing that the break of 15130/15150 will extend the losses of the index so that the road will be opened directly towards 15,030, and it may extend later towards 14,920.

Trading stability above 15,390 will invalidate the suggested scenario, and we may witness an ascending path targeting 15,500.

Note: the level of risk is high. 

S1: 15150	R1: 15390
S2:  15030	R2: 15500
S3: 14920	R3: 15630