German index started today’s session lower. Nevertheless, the declines were quickly erased, similar to yesterday or Tuesday. The following hours, however, bring further supply pressure and a continuation of the sell-off. Technically looking at the H1 interval, the price is approaching the key support zone at 14,470 pts. Green area is marked with the lower limit of the 1: 1 structure and 38.2% Fibonacci retracement of the recent upward wave. If buyers manage to halt declines there, then another upward impulse could be launched.However should break below occur, downward move may accelerate. Next significant major is located at 14,200 pts.
DE30 interval H1. Source: xStation5
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