The German benchmark index has corrected by 200 points since the weekly high reached yesterday.
D1 chart
The DE30 is trading more or less flat on Thursday after a weaker opening. There had already been some profit taking on Wednesday after a bounce off the 61.8% retracement. However, we are still a long way from a trend reversal.
Source: xStation5
H1 chart
The uptrend initiated with Tuesday's rise (see circle, last downward impulse in red) remains intact. However, the internal structure of the new, larger upward impulse is bearish, as the local lows (small green rectangle) were broken. Currently, the 23.6% retracement is being tested.
Source: xStation5
Maximilian Wienke, CFTe
XTB Germany
Daily summary: Muted rebound on Wall Street 🗽 Metals attempt to recover as the U.S. dollar weakens
US Open: Falling oil prices calm Wall Street 🗽 Dell and GitLab rise, Palo Alto falls
Market wrap: The US Strikes Iran, Oil hits the markets
Daily Summary: Summer Is Over. Markets Shift Into Risk-Off Mode
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.
