The DE30 is weakening and continues to search for a clear direction.
D1 chart
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Create account Try a demo Download mobile app Download mobile appThe DE30 loses 0.47% on Thursday, showing another sign of weakness after failing to break out of the rising wedge formation (bearish) two weeks ago and breaking the lower boundary of the rising trend channel this week.
Source: xStation5
H4 chart
Everything could be decided at the support at 15,200 points, to which the DE30 is heading again today at noon and which has been protecting the index from larger losses for three weeks. If the mark does not hold, the area between 14,770 and 14,860 points (see chart) could be targeted.
Source: xStation5
H1 chart
Nothing is lost yet, but without a reaction from the bulls soon, a deeper decline could be imminent. So far, the area between the 50% and 61.8% retracement of the recent correction proved to be too strong - the daily highs of the past five trading days can be found here. Only a break above it would create more confidence again.
Source: xStation5
Maximilian Wienke, CFTe
XTB Germany
