Will DAX continue to breakdown?

OANDA:DE30EUR   Germany 30
GER40 - 24h expiry - We look to Sell a break of 15529 (stop at 15649)

We are trading at overbought extremes.
Bearish divergence can be seen on the 4 hour chart (the chart makes a higher high while the oscillator makes a lower high), often a signal of exhausted bullish momentum, or at least a correction lower.
The bearish engulfing candle on the daily chart is negative for sentiment. Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible.
A break of the recent low at 15479 should result in a further move lower.
We look for losses to be extended today.
A higher correction is expected.

Our profit targets will be 15229 and 15179

Resistance: 15660 / 15740 / 15800
Support: 15552 / 15500 / 15370

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