DE30 collapses

The German benchmark index falls below the round mark of 14,000 points on Thursday.

MN-Chart

Today's decline brings the DE30 to a demand zone defined by the range of the January 2021 monthly candle. Such a zone is the last bearish candle before the start of the upward impulse. Investors should watch the behaviour within this area.

Source: xStation5

H1-Chart

In the short term, there are still no signs pointing to a bullish reversal. The downward trend was confirmed by lower lows this morning. To reverse it, the highs at 14,900 points would have to be broken, while above 14,415 points at least an upward correction could be expected.

Source: xStation5

Maximilian Wienke, CFTe
XTB Germany