DE30: Consolidation continues to determine price action

The German benchmark is testing an important resistance. Will the breakout succeed this time?

D1 chart

The DE30 gains 0.45% on Thursday, avoiding a deeper drop below the key support zone at 15.200 points, so the chances of a new record high have improved again. The 261.8% retracement and the upper boundary of the rising trend channel represent potential price targets.

Source: xStation5

H4 chart

The DE30 has been stuck in a trading range between 15.180 and 15.280 points since last week, with some quick directional changes within the range since yesterday (see chart). After yesterday's recovery from the lower limit, the index is already reaching the upper limit again today.

Source: xStation5

H1 chart

It is noticeable that the DE30 keeps fighting at the bottom of the slightly rising trend channel. After yesterday's bounce at 15.180 points, this was regained at a decent pace, so that the bulls once again have the opportunity to overcome the resistance at 15.270 points.

Source: xStation5

Maximilian Wienke
XTB Germany