DE30: Short-term false breakout on the downside?

The German leading index has reacted to an important mark.

W1 chart

The DAX / DE30 fell to a 2-month low this week. However, the index has reacted to the intermediate high at 14,742 points (imbalance). Compared to the recent low, a recovery of around 250 points can be seen. If sentiment does not improve sustainably, the index could fall to 14,146 points.

Quelle: xStation5 von XTB

D1 chart

The DAX / DE30 slipped below yesterday's daily low today. The price decline was seen as a buying opportunity by the bulls, but for a new uptrend structure (higher highs and higher lows), the high at 15,277 points must be broken. Without a break, the chart picture remains fragile.

Quelle: xStation5 von XTB

Maximilian Wienke, CFTe
XTB Germany