DE30: Can the bulls launch a second attack?

The German benchmark index has stabilized and is rising again in the short-term.

D1 chart

The DE30 is recovering on Thursday after yesterday's retest of last Friday's breakout level at 14,319 points. This offers a chance to resume the short-term uptrend and test resistance at 14,616 points - on Monday the index halted its rise shortly before. A break above it would release further upside potential.

Source: xStation5

H4 chart

The upward trend remains intact despite the two-day correction, at least as long as the support at 14,213 points can be defended. Technical analysts could argue with an ABC correction in the upward impulse, as the recent decline occurred in two waves. A rise above the local highs could arouse the interest of buyers.

Source: xStation5

Maximilian Wienke, CFTe
XTB Germany

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