DE30 has stopped the sell-off

The German benchmark index was unable to continue yesterday's recovery on Thursday.

D1 chart

The DE30 is trading in the red below the 14,000 mark, but within yesterday's trading range (inside bar). The green area is a demand zone from the monthly chart defined by the January 2021 candle (13,300 to 14,100 points).

Source: xStation5

H1 chart

Even though the downtrend was not confirmed by a lower low today, the bears retain their advantage. So far it has only been enough for tests of the 50 EMA. To reverse the trend, the DE30 would have to break the 200 EMA and the highs at 14,660 points.

Source: xStation5

Maximilian Wienke, CFTe
XTB Germany