The German benchmark index is in the middle of a short-term upward correction.
W1 chart
The DE30 broke through the low for the year this week - but the decline turned out to be a false breakout. A recovery was then initiated, recouping much of the losses. With the medium-term downtrend intact, a second test remains most likely.
Source: xStation5
H4 chart
The DE30 is moving in a steady uptrend towards the high at 12,947 points. This represents the most important resistance for buyers. Should there be a sustained breakout, there would be a chance for stronger rises. Currently, more selling pressure is to be expected.
Source: xStation5
Maximilian Wienke, CFTe
XTB Germany
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