DE30: Slight profit-taking after dynamic rally

The German benchmark index corrects a small part of the four-day upward movement on Thursday.

D1 chart

The DE30 gives up some of the recent gains and trades 2% below yesterday's daily high in the early afternoon. On Wednesday, the index broke through the supply zone marked in red and rose to its highest level since 25 February. The 50-day moving average is the next important hurdle for buyers.

Source: xStation5

H1 chart

In the hourly chart, the upward trend remains intact as it was confirmed by a higher high yesterday and the DE30 continues to trade above both moving averages. Only a drop below Tuesday's low at 13,571 points would change the direction. The green rectangle represents the latest upward impulse.

Source: xStation5

Maximilian Wienke, CFTe
XTB Germany