DE30
German index DAX (DE30) reached a fresh all time high at the beginning of the year but buyers failed to uphold upward momentum, and the downward correction started. Looking at the H4 interval from a technical point of view, the downward move may deepen. If the bearish sentiment prevails, the nearest support to watch lies at 13,450 pts handle. Should a break below this level occur, downward move may accelerate. In such a scenario the 13,050 pts area would be the next support to watch.
DE30 H4 interval. Source: xStation5
Bitcoin
One can observe a correccion move on the Bitcoin market. The major cryptocurrency did not manage to sustain recent upward trend and the price broke below the lower limit of the triangle formation, signaling a potential bigger sell-off. The lower limit of aforementioned formation was retested once again, however sellers halted advances. As long as the price sits below it, continuation of the downward correction looks to be the base case scenario. The nearest key support to watch lies round $28,000 level.
Bitcoin H4 interval. Source: xStation5
US100
The US tech index - Nasdaq (US100) has been trading in an upward trend recently. However, looking at the daily time frame, the price bounced off the resistance which is marked with the 161.8% Fibonacci exterior retracement. US100 also bounced off the upper limit for the ascending channel, which may encourage sellers to be more active. Should the downward correction start here, the first potential target for sellers will be the lower limit of the aforementioned channel.
US100 D1 interval. Source: xStation5
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.
