The price of the futures based on the German DAX (DE30) once again rebounded last week from the support zone at 15600 points. A pro-growth pinbar formation appears on the D1 interval, which may support the upward scenario. An attack on the average EMA 100-green line on the chart at 15860 points is then also not excluded. Its crossing could in turn lead to a test of the recent highs at 16090 points. On the other hand, in the event of a change in downward sentiment, any further test of the 15600-point zone will increase the risk of a bottoming out.
Source: xStation5
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Create account Try a demo Download mobile app Download mobile appLooking at the lower time interval - H1, just before the start of the cash session we observe a test of the resistance zone at 15800 points (after the price had previously broken out above the upper limit of the downward channel). If it is crossed, the upward movement may gain momentum. The next resistance falls only at 15950 points. Otherwise, a renewed rebound of the price from the resistance at 15800 points could lead to declines towards 15693 points or even 15605 points.
Source: xStation5
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