Records in the US Put German Stocks in an Interesting Position

The price continues to be near the upper bound of the green channel. The bulls touched this wall several times, but could not break it above. If in the near future we see a break of the resistance level, which is at the level of 13420, the market will open the way to the next major resistance of 14715, located on the upper wall of the yellow channel.

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However, if we see a rebound from the upper green bound, and if the bears have enough strength to break through the support level of 12684, which forms the lower yellow bound, in the following trading weeks, a decline to the level of 11938 is possible. This level is on the lower green bound.

Let’s keep an eye on this stock index in the future!