Germany’s Dax Faces Negative Pressure

Negative trading dominated the German DAX index within the expected bearish context in the previous analysis, recording its lowest level at 15,104.

On the technical side today, with trading remaining below the pivotal support level converted to the 15,200/15,210 resistance level accompanied by the negative pressure of the 50-day moving average, which is accompanied by the negative signs of the RSI.

It makes us believe that there is a possibility to continue declining towards 15,085, and breaking it extends the index’s losses towards 15,020. The activation of the bearish scenario depends on the stability of trading below 15,235 around the 50-day average, and its breakout and the stability of the price above it is able to return the index to the upside path with the first goal of 15,320.

S1: 15085	R1: 15235
S2: 15020	R2: 15320
S3: 14935	R3: 15380