DAX Under Pressure

Pivot (invalidation): 13295.00

Our preference Short positions below 13295.00 with targets at 13040.00 & 12960.00 in extension.

Alternative scenario Above 13295.00 look for further upside with 13370.00 & 13444.00 as targets.

Comment The RSI is bearish and calls for further decline. The index price is nearing 2018 high at 13600 (+100% Fibonacci projection level of the reversal up trend reported to August 2019 low). The price index needs to stand above 12886 to maintain the bullish bias.

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