DE30: Sharp reversal just before important resistance

On Thursday, the German leading index continued the decline it initiated yesterday.

D1 chart

The DE30 continues its downward movement after a bearish reversal below resistance at 14,320 yesterday. However, part of today's losses were recovered. To confirm the downtrend, the index would need to break the previous week's lows at 13,270 points.

Source: xStation5

H1 chart

The DE30 shows a structure of lower lows and lower highs, so a further approach to the price target mentioned above on the downside is to be expected. In order to end the downward trend, the index would have to break through the above-mentioned resistance. In the short term, things could become more bullish again above 13,920 points (against the main trend direction).

Source: xStation5

Maximilian Wienke, CFTe
XTB Germany