The German leading index is struggling to initiate a stronger recovery.
D1 chart
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Open account Try demo Download mobile app Download mobile appThe DE30 is stuck in Tuesday's trading range as the breakouts do not seem to be sustainable. Neither the bulls nor the bears were able to prevail. This week's decline has seen the index give up half of its recent gains. Investors are hoping for a stabilization at the 50% retracement. The crossover seen yesterday argues for further losses.
Source: xStation5
H4 chart
The DE30 has tried to break the local high at 13,295 points. A break above it could trigger a stronger price rise. However, the broader trend is bearish as the index is trading below the EMA50. Moreover, a crossover is a long way off. The levels marked in green represent potential targets for the bears.
Source: xStation5
Maximilian Wienke, CFTe
XTB Germany
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