DE30: Record high within reach

The German leading index rises to a 1-year high.

W1 chart

The DAX / DE30 rises on Thursday and breaks through the interim high of the long-term downward movement at 15,610 points. If the gains are held or extended over the rest of the week, this would release further upside potential. The next possible target would be the record high reached in November 2021 at 16,294 points. 

Source: xStation5

H4 chart

The uptrend was confirmed this morning by a new higher high - with the DAX / DE30 rising to its highest level in more than a year. However, the dynamic move has created an imbalance in the market (purple areas), so there may be a need for correction. Support is at 15,431 points.

Source: xStation5

Maximilian Wienke, CFTe
XTB Germany