DE30: Can the bulls end the short-term downward trend?

The German benchmark index is bearish in the short term, but the most important support zone could be defended this week.

D1 chat

The DE30 partially recovers the losses from the correction that started three weeks ago. On Thursday, it trades little changed from yesterday's close, as the initial losses of almost 300 points were fully recovered (see shadow). The support zone marked in green prevented a panic sell-off so far.

Source: xStation5

H1 chart

The recent recovery appears quite spectacular, as price gains of almost 5% (over 700 points) were observed in the meantime. However, the bulls' efforts so far can only be classified as an upward correction. This is because the high at 15,578 points, from which started the latest downward impulse on Monday, could not be broken.

Source: xStation5

Maximilian Wienke, CFTe
XTB Germany