DAX 40 closes the last trading session in the green zone, while the downward price movement vector prevails on the higher time-frame.
The support and resistance levels:
The nearest support level is at the price level of the 23472.18.
This level is formed due to the appearance of the Pin Bar pattern. This pattern is represented with a candle with a small real body and a long lower shadow. This pattern is quite common at strong support levels.
The nearest significant resistance level is at the 23840.68 mark.
As part of the formation of the level, the Identical Three Crows pattern was formed. This pattern consists of three consecutive Japanese candlesticks with identical long black bodies. Each candle opens at the closing level of the previous one and closes at a new low.
Trading recommendations:
Despite the downward dynamics prevail on a higher time-frame, the long position should be prioritized intraday. The latest signal on the chart indicates the prevalence of the upward movement intraday.
DAX 40 H1: The Price Action Forecast for the American Session on 7.11.2025
