The German DAX40 stock index has experienced a recent downward trend, falling below its 200-day moving average and a critical support level at 15,500. This reversal followed a multi-year high above 16,500, where the 50-day moving average became a resistance level, intensifying the sell-off. A classic Fibonacci pattern suggests a corrective pullback targeting the 61.8% retracement level near 14,700, with 14,600 as another potential bearish target, being a pivot level from the previous year. However, a rapid rise to 15,000 may occur without significant support.
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Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carries a high level of risk. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and on such sites. Furthermore, one understands that the company carries zero influence over transactions, markets, and trading signals, therefore, cannot be held liable nor guarantee any profits or losses.