German stocks continue to decline

Source: Dukascopy Bank SA


The German stocks have reached below the 13,000.00 mark. With the start of September, the index was apparently heading to the 12,500.00 mark and the 2022 low level zone, which surrounds it. Further below, note the 12,000.00 and 11,500.00 levels

If the German economy avoids a major recession and the index recovers, the index could recover and face resistance in the 13,000.00 level, before approaching the zone below 13,500.00 and the 50-day simple moving average. Higher above, the 2022 descending resistance line might cause another decline.

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