FX.co ★ DAX technical analysis for December 15th, 2022.

Black lines- bearish divergence

Blue line- key support level

Despite making new higher highs two days ago, price action implies that the up trend is vulnerable and soon we may get a reversal signal. Not only did price for a bearish candlestick with a long upper tail, the RSI did not follow to new highs and provided another bearish divergence. Support at 14,160-14,170 is very important. A break below this level would confirm the change in the short-term trend from bullish to bearish. The RSI is turning lower from overbought levels and did not follow price to new highs. We re neutral DAX if not bearish.