Germany’s DAX Starts Positively

The German DAX Index opened its daily trading with clear negativity after finding a strong resistance level around 13,290.

Technically speaking, we tend to be negative, depending on the stability of trading below the mentioned level, in addition to the continuation of negative pressure from the simple moving averages.

In the coming hours, we aim to re-test 13,025 as a first target. The return above 13,290 may negate the bearish scenario, and the index begins to recover towards 13,320, and gains may extend later towards 13,380.

Note: the bearish tendency does not contradict the general bullish trend. Note: the level of risk remains high.

S1: 13025	R1: 13320
S2: 12870	R2: 13445
S3: 12730	R3: 13610