DE30: The bulls are unstoppable

The German leading index is heading for the June high.

W1 chart

The DE30 is up 0.85% on Thursday, testing the 61.8% retracement of the downward movement that began in November 2021. The index has reached its highest level in almost six months. Compared to the low for the year, the recovery amounted to more than 23%. 

Source: xStation5

H4 chart

The DE30 is in a short-term uptrend. This was confirmed by a new higher high at noon today - yesterday's bounces off the EMA21 were used for an attack. To end the trend, the low at 14,374 points would have to be broken. 

Source: xStation5

Maximilian Wienke, CFTe
XTB Germany