The German benchmark index is trading slightly higher on Thursday before the start of the US opening.
The DE30 returns above the 16,000 mark in the early afternoon after investors bought the dip below yesterday's daily low. As the index did not close below the local low (15,437 points) at the beginning of the week, the all-time high could still be targeted - the previous week had only seen an approach (shooting star).
In the hourly chart, the structure within the broad upward impulse is bullish after the DE30 broke above the local high (16,002 points) in pre-market trading yesterday. To confirm the new uptrend, the index would need to break the weekly high (16,065 points) reached yesterday morning. In the short term, a double bottom could have formed.
Maximilian Wienke, CFTe
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.