DE30 tests key 13300 pts. resistance

Wednesday’s trading in Germany begins with significant moves as buyers are once again trying to push through the key 13300 barrier. Despite rally on Wall Street, DE30 is locked in a tight range of 13100-13300. We had one unsuccessful break and few more precise test of this level – one that occurred yesterday and ended in a move lower. Technically, an increased number of repeated failures to break higher increases odds of a larger downward move. Key support levels to watch are 13100 and 13040.

Bulls were unable to break 13300 yesterday - now they are trying again. Source: xStation5

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