Is the DE30 heading for the high for the year again?

The German benchmark index is holding above a key area.

W1 chart

The DAX / DE30 is recovering this week. Yesterday, the index turned just before the previous week's high, but the losses are manageable. The drop below the previous week's low was seen as a buying opportunity at the beginning of the week.

Source: xStation5

H4 chart

The DAX / DE30 is holding above the upper limit of a broad sideways range (14,698 to 15,278 points). The index broke out of this range the day before yesterday. Potential targets are marked in red. A break below the 15,278 mark could in turn trigger a stronger correction.

Source: xStation5

Maximilian Wienke, CFTe
XTB Germany

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