The German benchmark is testing an important resistance. Will the breakout succeed this time?
D1 chart
Start investing today or test a free demo
Create account Try a demo Download mobile app Download mobile appThe DE30 gains 0.45% on Thursday, avoiding a deeper drop below the key support zone at 15.200 points, so the chances of a new record high have improved again. The 261.8% retracement and the upper boundary of the rising trend channel represent potential price targets.
Source: xStation5
H4 chart
The DE30 has been stuck in a trading range between 15.180 and 15.280 points since last week, with some quick directional changes within the range since yesterday (see chart). After yesterday's recovery from the lower limit, the index is already reaching the upper limit again today.
Source: xStation5
H1 chart
It is noticeable that the DE30 keeps fighting at the bottom of the slightly rising trend channel. After yesterday's bounce at 15.180 points, this was regained at a decent pace, so that the bulls once again have the opportunity to overcome the resistance at 15.270 points.
Source: xStation5
Maximilian Wienke
XTB Germany
The content of this report has been created by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, (KRS number 0000217580) and supervised by Polish Supervision Authority ( No. DDM-M-4021-57-1/2005). This material is a marketing communication within the meaning of Art. 24 (3) of Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU (MiFID II). Marketing communication is not an investment recommendation or information recommending or suggesting an investment strategy within the meaning of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC and Commission Delegated Regulation (EU) 2016/958 of 9 March 2016 supplementing Regulation (EU) No 596/2014 of the European Parliament and of the Council with regard to regulatory technical standards for the technical arrangements for objective presentation of investment recommendations or other information recommending or suggesting an investment strategy and for disclosure of particular interests or indications of conflicts of interest or any other advice, including in the area of investment advisory, within the meaning of the Trading in Financial Instruments Act of 29 July 2005 (i.e. Journal of Laws 2019, item 875, as amended). The marketing communication is prepared with the highest diligence, objectivity, presents the facts known to the author on the date of preparation and is devoid of any evaluation elements. The marketing communication is prepared without considering the client’s needs, his individual financial situation and does not present any investment strategy in any way. The marketing communication does not constitute an offer of sale, offering, subscription, invitation to purchase, advertisement or promotion of any financial instruments. XTB S.A. is not liable for any client’s actions or omissions, in particular for the acquisition or disposal of financial instruments, undertaken on the basis of the information contained in this marketing communication. In the event that the marketing communication contains any information about any results regarding the financial instruments indicated therein, these do not constitute any guarantee or forecast regarding the future results.
