The German leading index is heading for the June high.
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The DE30 is up 0.85% on Thursday, testing the 61.8% retracement of the downward movement that began in November 2021. The index has reached its highest level in almost six months. Compared to the low for the year, the recovery amounted to more than 23%.
The DE30 is in a short-term uptrend. This was confirmed by a new higher high at noon today - yesterday's bounces off the EMA21 were used for an attack. To end the trend, the low at 14,374 points would have to be broken.
Maximilian Wienke, CFTe