📈DE30 above 16,000 pts

After the mixed Asian session, major European stock indices begin their first session in 2022 with gains. DE30 increases by more than 1%, while FRA40 and SPA35 are up 0.8%. Today's upward move may be supported by the lack of negative reports on the Omicron variant.

It is also worth mentioning about the so-called “January effect”. This is a hypothesis that there is a seasonal anomaly in the financial market where securities' prices increase in the month of January more than in any other month.

If we look at the situation on the German DE30 index, the favorable technical situation could also support buyers. Upward signal appeared on December 29, when the  index rebounded from the key support at 15,780 points. Buyers appeared at the limit of the 1: 1 structure, which, in accordance with the Overbalance methodology, indicated a continuation of the upward trend.

DE30 interval H1. Source: xStation5