German Dax Starts Negative

Mixed trading dominates the movements of the German DAX index, to start its daily trading on a descending price gap, recording its lowest price of 15,850.

On the technical side today, and with a careful look at the 60-minute chart, we find the 50-day moving average pressing the price from above, and the RSI providing negative signals.

Therefore, we tend to the negativity, but with caution, and we await confirmation of breaking 15,850 to target 15,810 and 15,770, respectively.

Note: the level of risk is high and is not commensurate with the expected return. Trading above 15,930 negates the bearish bias, and we may witness an ascending path with the first goal of 15,990.

S1: 15810	R1: 15930
S2:  15770	R2: 16000
S3: 15700	R3: 16050