The German benchmark index reacted to an important Fibo level after the short-term profit-taking.
D1 chart
The DE30 is trading slightly lower in the early afternoon after failing to hold the level of the record high reached this morning (16,285 points). If the uptrend is not confirmed by a higher high today, a corrective move could be in the offing. The demand zone between 16,060 and 16,120 points would be the first place to go.
Start investing today or test a free demo
Create account Try a demo Download mobile app Download mobile app
Source: xStation5
H1 chart
The DE30 gave up the initial gains within a very short period of time during today's setback, which was observed after the formation of the new all-time high. However, the decline below the daily low (16,235 points), which coincides with the 61.8% retracement, was short-lived and provided some buying interest again. Only a break below yesterday's daily low (16,204 points) would reverse the trend.
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.
