DE30: Is the rise above the 50-day moving average sustainable?

The German benchmark index is fighting against the medium-term downtrend.

D1 chart

The DE30 continued its recovery on Thursday, testing the 50-day moving average for the first time in more than two weeks. Yesterday's breakout above the local highs may have ended the short-term downtrend. However, to improve the medium-term outlook, the index would need to break above the 100-day moving average and the March highs (14,944 points).

Source: xStation5

H1 chart

The DE30 is in a clear uptrend. The moving averages have crossed (golden cross), the index is forming higher highs and higher lows above the EMAs, and so far there are no signs suggesting bearish reversals. The important thing for the rest of the day is whether the gains above the 50-day moving average can be held this time. 

Source: xStation5

Maximilian Wienke, CFTe
XTB Germany