The German benchmark index is pulling back from the psychological 14,000 point mark again.
D1 chart
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Open account Try demo Download mobile app Download mobile appThe DE30 loses more than 3% of its value on Thursday. On Wednesday, the index had been able to recover strongly - briefly a gain of around 1,000 points was observed. However, selling pressure increased within the Supply Zone (in red). Such a zone is defined by the last bullish candle before the downward movement.
Source: xStation5
H1 chart
The DE30 is correcting today almost to the 61.8% retracement of the recent upward impulse. The short-term trend structure has been bullish since Monday's rise above the local highs (see circle). But to reverse the long-term downtrend, the index would need to sustainably break the EMA200 and resistance at 14,100 points.
Source: xStation5
Maximilian Wienke, CFTe
XTB Germany
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