DE30 is stuck in a consolidation

12:13 PM 25 August 2022

The German leading index is struggling to initiate a stronger recovery. 

D1 chart

The DE30 is stuck in Tuesday's trading range as the breakouts do not seem to be sustainable. Neither the bulls nor the bears were able to prevail. This week's decline has seen the index give up half of its recent gains. Investors are hoping for a stabilization at the 50% retracement. The crossover seen yesterday argues for further losses.

Source: xStation5

H4 chart

The DE30 has tried to break the local high at 13,295 points. A break above it could trigger a stronger price rise. However, the broader trend is bearish as the index is trading below the EMA50. Moreover, a crossover is a long way off. The levels marked in green represent potential targets for the bears.

Source: xStation5

Maximilian Wienke, CFTe
XTB Germany

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