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DE30 with slight profit-taking

12:32 PM 5 May 2022

The German benchmark index slips on Thursday, but the losses have been limited so far.

D1 chart

The DE30 is correcting a small part of its recent rally after the rise above yesterday's daily high was not sustainable. On Wednesday, the index rose around 240 points to close above resistance at 14,182 points, which may have signalled a short-term change in direction.

Source: xStation5

H1 chart

The DE30 confirmed the short-term uptrend with a higher high last night, after using the area around 13,850 points (local low from a week ago) as support. The next potential upside target would be the April 21 high at 14,616 points.

Source: xStation5

Maximilian Wienke, CFTe
XTB Germany

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