Sat, May 28, 2022 @ 23:03 GMT

GER 40 Goes Sideways

The Dax 40 consolidates as the eurozone’s finance ministers meet. The double top at the all-time high (16300) is a strong resistance to crack.

A break below 15860 has prompted some buyers to exit and reassess the situation. The current consolidation is a sign of market indecision in the short term.

A rise above the psychological level of 16000 has so far struggled to boost buyers’ confidence. This may only happen if the index reclaims 16050. On the downside, a fall below 15750 would send the price to 15500.

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