Key German index started this week with the bullish gap but has been struggling since then. Will the key support contain the decline❓
Markets started this week in upbeat moods after the Fed openly cheered weaker NFP report last Friday. The bullish momentum has faded since then as investors are unsure how rising inflation can complicate economic landscape. While the key data will be released tomorrow (US CPI, 1:30pm), DE30 is already testing the key 15100 level – neckline of a failed head and shoulders formation. The index blew past this support last week only to give fake signals two times – once on the downside and once on the upside. Will the level hold this time around? A break lower could lead to a lower limit of the upwards channel.
Start investing today or test a free demo
Open account Try demo Download mobile app Download mobile appThis content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.