The DE30 failed to break above the crucial resistance area at 15,280 points on Thursday despite strong momentum.
M15 chart
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Create account Try a demo Download mobile app Download mobile appThe DE30 was able to recover more or less in a V-shape from Tuesday's losses and is now trading in the old familiar range again (see chart). The attempt to break out above the weekly high at 15,280 points failed this morning, and after the decline, the index is struggling at the local support zone at 15,150 points, as well as at the lower boundary of the rising wedge formation (bearish).
Source: xStation5
D1 chart
Due to the setback, almost all the gains from today's intraday trading were given away, so that the daily candle shows a very small candle body and a long upper shadow (Doji/Spinning Top). So little has happened since yesterday's close, but as long as the DE30 does not break out of the short-term downtrend channel, the bears could initiate another sell-off.
Source: xStation5
Maximilian Wienke, CFTe
XTB Germany
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