DE30: Battle for the 16,000 Level

The DAX future / DE30 has given back all the gains from last week.

Source: xStation5

W1 chart

The psychologically significant level of 16,000 points has so far prevented the index from experiencing a more significant decline. A return above the 16,135 level could potentially restore optimism. However, if a swift recovery fails to materialize, there is a possibility that the important support zone between 15,816 and 15,591 points will be tested.

Source: xStation5

M15 chart

The long-term downtrend since last Monday remains intact, indicating that further losses could follow. To signal a trend reversal, the index would need to reclaim the local high at 16,069 points and surpass the moving averages. A crossover would serve as an additional confirmation signal.

Source: xStation5

Maximilian Wienke, CFTe
XTB Germany