At midday on Thursday, the German benchmark index is trading at the level of yesterday's closing price.
D1 chart
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Create account Try a demo Download mobile app Download mobile appRecently, there have been numerous directional changes within the range defined by the support at 14,806 points and the 50% retracement of the correction that began at the beginning of the year. On Thursday, the initial losses are almost completely recovered, so in the snapshot we can see another long shadow.
Source: xStation5
H1 chart
While the bulls argue with a double bottom, as this week's sell-off was stopped at the yearly lows at 14,800 points, the bears see the bounce at the resistance zone between 15,480 and 15,580 points. An upward breakout would be necessary to improve the technical situation. An easing signal in the conflict over Ukraine could provide relief.
Source: xStation5
Maximilian Wienke, CFTe
XTB Germany
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