DE30: Rally could come to an end after 9 weeks!

The German leading index is moving away from important resistance.

W1 chart

The DAX / DE30 is falling this week, having recently respected the 61.8% retracement of the long-term downward movement several times. Compared to the previous week's high, the index has dropped more than 400 points. A potential target on the downside is the EMA21 at 13,600 points. 

Source: xStation5

H4 chart

Since the beginning of the week, the DAX / DE30 has been hitting new lows below the EMA21. This confirms the short-term downtrend and could possibly herald a larger downward movement. To initiate a new uptrend, the local resistance at 14,309 points would have to be broken.

Source: xStation5

Maximilian Wienke, CFTe
XTB Germany