German stocks face resistance

Source: Dukascopy Bank SA


The top 40 German stock index found support in the 14,600.00/14,950.00 range in late October. Since then, the equities have surged and recently found a resistance in the 16,000.00 mark.

A move above 16,000.00 is set to face the resistance of the 16.300.00/16.500.00 range that combined the 2021 and 2023 high levels. If this range does not act as resistance, the index would be at new all time high levels.

On the other hand, a sudden recession or bad news could beat the stocks down. In this case scenario note the 15,500.00 mark that could slow down a decline, before the 14,600.00/14,950.00 range would be reached.
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