German stocks reach below 12,000.00

Source: Dukascopy Bank SA


During late September trading, the German top 40 stock index reached below the 12,000.00 mark. However, on the first day of October trading a sharp recovery occurred. By October 5, the equity index had reached the August low levels near 12,600.00/12,650.00.

An extension of the stock recovery could encounter resistance in the 50-day simple moving average near 12,950.00 and the 13,000.00 mark. Higher above, note the resistance line, which has kept the index down throughout 2022.

However, a decline of the equities might find support in the 12,500.00 level, which before September marked the 2022 low levels. Afterwards, the 12,000.00 mark could act as support, before the October low level at 11,810.00 would be reached.
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Wed, 05 Oct 2022 11:57:31 GMT

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