DE30: When could it become bullish again?

Sustained recovery proves difficult.

D1 chart

The DE30 slips on Thursday, testing the psychological 12,000 mark for the third time this week. Yesterday, the downward price swing was seen as a short-term buying opportunity, but it has not changed the long-term trend direction - which is downward. 

Source: xStation5

H4 chart

The DE30 rose above the local high yesterday, raising hopes of a stronger upward move. However, the environment remains bearish as the index is trading below the moving averages and resistance at 12,434 holds for now. A break above these hurdles could change the trend direction (in H4).

Source: xStation5

Maximilian Wienke, CFTe
XTB Germany