DE30: Reaction at the previous week's high is crucial

The German benchmark index can not end the multi-day consolidation despite the efforts of the bulls.

D1 chart

The DE30 is in the profit zone for this week due to today's price increase, but struggles at the high of the previous week (16,077 points). Only a new record high that is sustainable would confirm the long-term uptrend and provide more optimism from a technical perspective.

Source: xStation5 

H1 chart

The second breakout attempt this week above 16,077 points has failed for the time being. It is interesting that the area between the support at 15,984 points and the round 16,000 mark has not only intercepted the attacks of the bears, but is repeatedly used for entries.

Source: xStation5 

Maximilian Wienke, CFTe
XTB Germany