The German DE40 stock index started Monday’s session with an upward movement. Looking at the D1 interval, we are still dealing with an upward trend. The base scenario therefore assumes a test of resistance at 24,380 points, where last month’s highs are located. If this resistance is exceeded, the next target for buyers will be 24,750 points, where the 127.2% Fibonacci external measurement of the last downward movement falls. On the other hand, in the event of a deeper correction, we consider the level of 23,500 points, where previous price reactions occurred, to be the nearest support.
DE40 D1 interval. Source: xStation5
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