The German benchmark index is weakening after reaching its highest level in six months.
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The DE30 fluctuates between gains and losses this week. On Thursday, the index is down 0.40%. Since last week, selling pressure has been mounting at the 61.8% retracement of the long-term downtrend. slightly above that is the June high.
Despite the strong selling pressure, the DE30 managed to defend the EMA21. However, the bulls lack the strength to push the price higher and test the previous week's high. A drop below the moving average as well as below the low at 14,364 points would end the uptrend.
Maximilian Wienke, CFTe
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