Note: This section contains information in English only.
The April and May descending channel pattern was broken on May 20. The German stock index afterwards confirmed the previous resistance line as support, before starting a surge. By the start of June, the stocks were approaching the March high level zone at 14,825.00/14,940.00. Meanwhile, the resistance zone was being approached by the 200-day simple moving average near 15,000.00.
If the resistance zone holds, the index might look for support in the early 2021 high level zone near 14,100.00/14,200.00 and the 50-day simple moving average. Further below, take into account the 13,650.00 level and the 13,280.00/13,465.00 zone.
On the other hand, a move above the 15,000.00 mark is highly likely going to encounter resistance in the 15,500.00 and 16,000.00 levels.
Fri, 03 Jun 2022 10:47:07 GMT
Source: Dukascopy Bank SA
The April and May descending channel pattern was broken on May 20. The German stock index afterwards confirmed the previous resistance line as support, before starting a surge. By the start of June, the stocks were approaching the March high level zone at 14,825.00/14,940.00. Meanwhile, the resistance zone was being approached by the 200-day simple moving average near 15,000.00.
If the resistance zone holds, the index might look for support in the early 2021 high level zone near 14,100.00/14,200.00 and the 50-day simple moving average. Further below, take into account the 13,650.00 level and the 13,280.00/13,465.00 zone.
On the other hand, a move above the 15,000.00 mark is highly likely going to encounter resistance in the 15,500.00 and 16,000.00 levels.