GER30 Steadies, Off its Record Highs
GER30 - H1
September and November were the only months of this year, during which GER0 failed to register new all-time highs, but last week, it returned to its usual mode and set new records.
The current week starts with some caution, marginally below these levels (16,087), with the near-term outlook being somewhat unclear, as RSI hovers around the 50 line. GER30 is definitely in the driver's seat and looks poised to break new ground, but may be too early to talk about moves beyond 16,200.
Despite that, the product's prior visit above 16,000 in August, had triggered sellers and had led to a correction lower. Today's indecision creates risk for a breach of the EMA100 (15,970-50) towards 15,900, but a negative turn in sentiment would be needed for a challenge of the 15,780-50 area, below which its ascending aspirations would be questioned.
Past Performance: Past Performance is not an indicator of future results.
Nikos Tzabouras
Senior Financial Editorial Writer
Nikos Tzabouras is a graduate of the Department of International & European Economic Studies at the Athens University of Economics and Business. With extensive experience in market analysis and a strong foundation in international relations, he brings a unique perspective to financial markets. Nikos emphasizes not only technical analysis but also on fundamentals and the growing influence of geopolitics on financial trends.
As a Senior Financial Editorial Writer, he delivers comprehensive and forward-looking insights across a wide range of asset classes, including equities, commodities, and currencies. His work explores how macroeconomic events, political developments, and global policies impact market dynamics, providing readers with a deeper understanding of both short-term movements and long-term trends.
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