Germany 40 index plummets below support

Note: This section contains information in English only.
Source: Dukascopy Bank SA


From May 2021 up to February 2022, the German top 40 stock index traded in a range between the 14,850.00 level and the 16,300.00 mark. Namely, the index was trading up and down in a wide 9.00% range for almost a year. In mid-February, the sideways trading ended on February 20, as the index plummeted below the 14,850.00 zone.

By the start of March, the decline of the index had reached below the 14,000.00 mark. Moreover, on March 2 the index was testing the 14,000.00 as resistance.

A continuation of the decline might look for support in the early 2021 low levels near 13,650.00. Further below, note the late 2020 high and 2021 low levels in the 13,285.00/13,465.00 zone. Below the support zone, the 13,000.00 mark is likely to act as support.

On the other hand, a recovery of the German stocks would have to pass the 14,000.00 mark. Afterwards, the early 2021 high level zone at 14,130.00/14,200.00 could provide resistance.
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