1-hr Germany 40: Down Trend Persists

14 lis

The Germany 40 index is currently in a short-term downtrend, as observed on the 1-hour time frame. This bearish movement is confirmed by a classic technical signal known as the Death Cross, where the 20-period moving average has crossed below the 60-period moving average. This crossover is a strong indicator of weakening momentum. At the moment, the price is consolidating near the immediate resistance level, which aligns with the 23% Fibonacci retracement. A temporary increase in buying pressure could push the index higher, potentially reaching 19,100 (38% Fibonacci level) or even 19,180 (50% Fibonacci level). These higher resistance zones may offer better opportunities for sellers looking to capitalize on the broader downtrend and initiate new short positions, aiming to align with the prevailing bearish sentiment.

14 lis

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