DE30: Bulls fight their way back into the profit zone

1:26 PM January 13, 2022

The German benchmark index is trading slightly higher on Thursday before the start of the US opening.

D1 chart

The DE30 returns above the 16,000 mark in the early afternoon after investors bought the dip below yesterday's daily low. As the index did not close below the local low (15,437 points) at the beginning of the week, the all-time high could still be targeted - the previous week had only seen an approach (shooting star).

Source: xStation5

H1 chart

In the hourly chart, the structure within the broad upward impulse is bullish after the DE30 broke above the local high (16,002 points) in pre-market trading yesterday. To confirm the new uptrend, the index would need to break the weekly high (16,065 points) reached yesterday morning. In the short term, a double bottom could have formed.

Source: xStation5 

Maximilian Wienke, CFTe
XTB Germany
 

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