DE30: The high for the year is within reach

The German leading index is heading purposefully towards the high for the year.

W1 chart

The DAX / DE30 is up 1% today, significantly extending its weekly gain and is on the verge of testing the high for the year, which was reached three weeks ago at 15,718 points. A breakout to the upside could see the record high at 16,294 points targeted.

Source: xStation5

H4 chart

The bulls prevail again and again. First the breakout from the broad sideways range, then the rise above the upper limit of the short-term trend channel. There is an intact uptrend - there was a crossover as well as higher highs and higher lows. The key support is at 15,233 points.

Source: xStation5

Maximilian Wienke, CFTe
XTB Germany