❗ European markets continue upward move, DE30 reaches new record high
US indices finished yesterday's trading lower but investors in Europe do not seem to be concerned. Indices from the Old Continent continue upward move today with major benchmarks from the Western Europe trading 0.6-0.9% higher. German DAX (DE30) has managed to break above the high from April 16 and reached a fresh all-time high.
Taking a look at DE30 from a technical point of view, we can see that current upward impulse was launched after a test of the 14,800 pts support area, marked with the 65-session EMA and the lower limit of the Overbalance structure. In case buyers manage to maintain bullish momentum, the next resistance to watch can be found at 127.2% retracement of recent correction (15,720 pts area).
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Source: xStation5
