DE30: Weakness after bear market rally

The German benchmark index gives up part of the week's gains.

D1 chart

The DE30 fluctuates between gains and losses on Thursday ahead of the ECB's interest rate decision. On Wednesday, the index retreated after a false breakout at resistance at 13,419 points. A sustained break would significantly improve the outlook.

Source: xStation5

H4 chart

The DE30 bounced twice off the 50% retracement of the previous upward impulse during its recent correction and has since oscillated around the 13,200 point level. A trend continuation is most likely - but the bulls would have to break through resistance at 13,419 points to do so.

Source: xStation5

Maximilian Wienke, CFTe
XTB Germany