The German benchmark index rises by a further 0.5% on Thursday and seems to continue the recovery for a third day in a row.
D1 chart
Start investing today or test a free demo
Open account Try demo Download mobile app Download mobile appThe DE30 has already gained more than 4% since the weekly low reached on Monday morning. The next important resistance for the bulls is the 61.8% retracement of the correction that started four weeks ago (15,760 points), which has not been sustainably broken so far despite several attempts in December.
Source: xStation5
H1 chart
In the hourly chart, the short-term structure within the broader upward impulse is bullish again after the decline below the December 3 low turned out to be a false breakout (see bullish hammer candle). To confirm the trend, the index would have to overcome the high of December 7 (15,842 points), while below the local low (blue line at 15,405 points), selling pressure could increase again.
Source: xStation5
Maximilian Wienke, CFTe
XTB Germany
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
