The German benchmark index finds short-term support at the 61.8% Fibonacci retracement.
D1 chart
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Source: xStation5
M30 chart
The lower time frame shows that the buyers were able to defend the 61.8% Fibonacci retracement of the upward movement several times, which began with the previous week's low. This gives hope for a short-term bottom! However, to initiate a new uptrend structure, a breakout above the local high at 15,808 points would be necessary - this is where the recent downward impulse began. The attempt at the first countermovement failed.
Source: xStation5
Maximilian Wienke, CFTe
XTB Germany
