The DE30 broke out of its multi-day sideways range and could reach a new record high for the second day. Can the bulls push the price further up in the afternoon?
D1
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Open account Try demo Download mobile app Download mobile appThe DE30 continues its upward movement for a third day on Thursday. However, the index pulls back a little after a new all-time high was formed near the 161.8% fibonacci extension. The main price target remains the area at 15,270 points, which is derived from the range of the rising triangle.
Source: xStation 5
H4
The RSI could fall below the 70 mark with a little more pressure from the bears and generate a technical sell signal. Nevertheless, traders should not rely solely on single observations. It is crucial for the trend that the support at 14,600 points and the upward trend line can be defended.
Source: xStation 5
H1
The Futures were able to close the gap from pre-market trading shortly before the European opening and continue the upward movement initiated on Tuesday. Since tonight, short-term volatility has increased significantly and rapid directional changes are occurring in the bearish wedge pattern. The bearish engulfing and the bearish divergence should also be considered, but do not rule out a further rise.
Source: xStation 5
Maximilian Wienke
XTB Germany
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