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DE30: Breakthrough or top formation?

3:51 PM 9 March 2023

The German leading index is facing an important decision.  

W1 chart

The DAX / DE30 reached a new high for the year this week at 15,718 points. However, the break above resistance at 15,698 points was not sustainable. The index was set back slightly, so that it currently has a small weekly loss.

Source: xStation5

D1 chart

Today's setback was seen as a buying opportunity - this is shown by the lower shadow. The recovery attempt is not yet convincing. However, the DAX / DE30 can hold at a high level, so that a second test of the above-mentioned hurdle is possible.

Source: xStation5

Maximilian Wienke, CFTe
XTB Germany

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