DE30 extends December loss

The German benchmark index is heading for the 14,000 point mark.

W1 chart

The DAX / DE30 falls to a multi-week low on Thursday after the breakout above the recent highs as well as the 61.8% retracement of the long-term downward movement was not sustainable. The EMA21 at 13,700 points could provide strong support.

Source: xStation5

H4 chart

The DAX / DE30 gave up support at 14,301 points today. After the break, the decline continued. Yesterday, sentiment had already deteriorated as the index fell below the EMA21 - the moving average was tested twice without success.

Source: xStation5

Maximilian Wienke, CFTe
XTB Germany

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