DE30
Looking at the H4 chart of the German DAX index (DE30) from a technical point of view, the price has recently left the downtrend channel and managed to break above the resistance at 14,300 points. However, the upward movement halted around the resistance zone at 14,590 points, which acted as a major obstacle for buyers. Should break higher occur, the highs from the end of March - around 14,860 points - will become the next target for the market bulls. On the other hand, should a correction move occur, the zone around 14,300 points remains the key support. Its negation could push the index towards 14,000 points, where the lower limit of the 1:1 structure is located.
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DE30 H4 interval. Source: xStation5
Bitcoin
Monday's session brought a dynamic rally on the cryptocurrency market. Bitcoin price managed to leave the local consolidation, however the market bulls' enthusiasm cooled down quickly. Looking at the D1 interval, the technical situation remained basically unchanged. Despite a large D1 demand candlestick, the price remains below the key resistance at $33,000. Only the break above could spark a bigger rebound towards $37,600. On the other hand, if sellers take the lead and the support at $29,000 is broken, Bitcoin could return to the downtrend and hit the recent lows at $25,000.
Bitcoin interval D1 Source: xStation5
GOLD
When it comes to the gold market, the last correction stopped at the measurement of 38.2% of the downtrend wave, which started in mid-April. Technical analysis may support the continuation of the downtrend. Important for the further price direction will be whether the price will remain below the zone $1841.50 - $1836.00. If so, another downward impulse towards the recent low at $1788.00 should be on the cards. On the other hand, if buyers regain control, it may lead to a retest of the resistance at $ 1867.
GOLD interval H4. Source: xStation5
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