The German benchmark index is narrowing the gap to the low for the year to around 180 points.
W1 chart
Start investing today or test a free demo
Create account Try a demo Download mobile app Download mobile appThe DE30 continues its decline this week, heading for the low for the year reached in March at 12,423 points. In the previous week, this support was successfully defended by the bulls, but the more often it is tested, the higher the probability of a breakout. If the area is abandoned, the index could approach the low at 11,315 points.
Source: xStation5
H4 chart
There are two possible interpretations. The bulls are hoping for a trend reversal after the false breakout at the low for the year and the rise above the high at 12,947 points. The bears, on the other hand, see the break of the short-term structure (internal structure of the upward impulse) and could expect the start of a new selling wave.
Source: xStation5
Maximilian Wienke, CFTe
XTB Germany
This 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.
