DE30: An important decision is imminent!

The German leading index is encountering strong resistance. 

W1 chart

The DAX / DE30 gained around 700 points this week, almost reaching the medium-term resistance zone around the 14,700 point mark: December high, November high, June high and 61.8% retracement of the long-term downward movement.

Source: xStation5

H4 chart

The rally is stalling! A short-term top formation could increase the pressure and initiate a correction. However, this would not end the uptrend (yet). This would require a drop below the low at 14,201 points - the gap is more than 300 points.

Source: xStation5

Maximilian Wienke, CFTe
XTB Germany