Germany is also heavily dependent on other raw materials transported through the Strait of Hormuz. The DAX is currently trading around 1,000 points below its 200-day EMA (red line) and has fallen roughly 12% from its recent highs. On the daily timeframe, the RSI points to oversold conditions at 26. At the same time, there are early signs of a cautious return of buyers, and today’s daily candle has formed a very long wick. The index managed to hold the decline near the 23,670 level.
DE40 (D1 timeframe)

Source: xStation5
Daily Summary: Failure of negotiations in the gulf, oil and gas prices soar
US OPEN: Debt and the Strait of Hormuz fuel growing concerns.
⬆️TTF gas rises over 6% near 58 EUR
Economic Calendar: Markets Awaken After a Weekend of Geopolitical Deadlock🚢