The GER40 index continues its strong uptrend by testing a new all-time high at the 19,617 level. At this point, the key resistance level to watch closely is 19,900. This level also represents a zone where sellers are concentrated, making potential profit-taking likely in this area. For investors, taking profits around this zone could be a strategic move.
The ascending channel movement that the index is currently in has formed a flag pattern. However, if the flag support is broken, significant selling pressure could emerge in the index, accelerating the pullback. In such a scenario, the index could drop towards the lower band of the channel at the 18,000 level.
Leave A Comment