The price failed to form a new high, while the Stochastic indicator remains above the 20 level. This divergence, marked with a red line on the chart, indicates weakening of an upward momentum and increases the probability of a price decline.
The RSI indicator is now below the mark of 50. The position of the indicator below this level indicates the predominance of a downward trend.
The histogram of the MACD indicator remains above the signal line, indicating the local development of an upward movement. However, the indicator indications do not contradict the signal, marked on the chart.
When it comes to DAX 40 short positions now look more preferable. For aggressive trading, a trader can enter the market at the current prices. Advocates of a more conservative strategy should wait for the level to be retested.
📌 Entry: 23775.90
✔️ First target: 23586.90
✔️ Second target: 23301.38
❌ Stop order: 23934.74
DAX 40 M15: A reversal signal from the Stochastic indicator
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