Merkel proposes restrictions for the unvaccinated - DAX pulls back

Chancellor Merkel will step down from her post on Thursday, but today she spoke about the potential measures that the current government should take. In her opinion, Germany should introduce restrictions for unvaccinated people in view of the significant increase in the number of new COVID-19 cases. Previously, such actions were taken in other economies, including Austria or Greece.

DE30 fell back sharply from the release of this information. On the D1 interval, we observe a retreat below the 200 SMA. The DAX was unable to break above this resistance this week. On the other hand, on the M15 interval, index attempts to rebound from the 23.6% Fibonacci  retracement of the upward impulse started yesterday. Similar downward movements are also visible in other markets.

Source: xStation5