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DE30: Investors undecided after shooting star

4:22 PM 6 January 2022

Is the German leading index heading for a stronger correction?

D1 chart

The DE30 is trading flat on Thursday shortly after the US opening as intraday losses were recovered. If the index closes at this level or higher, the shooting star formed yesterday below the all-time high would not be confirmed.

Source: xStation5

H1 chart

In the hourly chart, the short-term structure within the broader upward impulse is bearish due to yesterday's drop below the local low (16,062 points). However, so far the sellers have not been able to control the market. The DE30 recovered slightly and is trying to hold above the 16,062 point area.

Source: xStation5 

Maximilian Wienke, CFTe
XTB Germany
 

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