DE30: Is the recovery really sustainable?

The DAX-Future / DE30 is showing signs of recovery this week.

Source: xStation5 

W1 chart 

The strong support zone between 15,816 and 15,891 points has once again prevented a more significant correction. Bulls see this as an opportunity for further recovery and possibly even a new record high.

Source: xStation5 

M15 chart 

However, the further course of action also depends on the smaller trend structure. The index has risen in the short-term but has entered a sideways phase. A breakout to the upside would strengthen the confidence of the bulls. If there is a break to the downside, the aforementioned support zone would come into focus.

Source: xStation5 

Maximilian Wienke, CFTe
XTB Germany