DE30: Can the buyers prevent worse?

11:23 AM 25 May 2023

The DAX future / DE30 falls to a multi-week low today. 

Source: xStation5

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W1 chart

The leading index has dipped into a stronger support zone defined by the following boundaries: 15,891 and 15,816 points. The area is of great importance as the bulls have been buying there repeatedly in recent weeks.

Source: xStation5

M15-Chart

A clear downtrend is in place as lower lows have been reached below the moving averages since yesterday morning. The low at 15,756 points needs to be broken to confirm the trend. The key resistance is the high at 15,919 points.

Source: xStation5

Maximilian Wienke, CFTe
XTB Germany

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