Germany 30 (DE30 EUR) in the Overbought Region, Faces Selling Pressure at Level 11000

Germany 30 (DE30 EUR) in the Overbought Region, Faces Selling Pressure at Level 11000

Key Resistance Zones: 13600, 14000, 14400
Key Support Zones: 11200, 10800, 10400

Germany 30 (DE30EUR) Long-term Trend: Bullish
The index is in an uptrend. It is presently rising from its low of level 10161and approaching level 11000. On the upside, if the bulls break above level 11000, the market will rally above level 11500. It other words, the market will reach above the previous higher highs. Nonetheless, if the bulls fail to breach level 11500, DE30EUR will be in a sideways move below the current resistance.

DE30EUR – Daily Chart

Daily Chart Indicators Reading:
Presently, SMAs are sloping upward indicating the upward move. The moving averages have a bullish crossover. The index is at level 56 of the Relative Strength Index period 14. This indicates that the market is in the uptrend zone and above the centerline 50.

Germany 30 (DE30EUR) Medium-term Trend: Bullish
On the 4- hour chart, the index is making a series of higher highs and higher lows. It is in an ascending channel. The price has broken above EMAs as it approaches level 11000.

DE30EUR – 4 hour Chart

4-hour Chart Indicators Reading
The market is currently above 80 % range of the daily stochastic. The index is now in the overbought region. The price is rising as it reached the overbought region. Usually, sellers may emerge at the overbought to push pries downward. In a trending market, the overbought or oversold conditions may not hold.

General Outlook for Germany 30 (DE30EUR)
DE30EUR has resumed uptrend after a downward move. As the market reaches the overbought region, sellers may emerge at level 11000 to push prices downward. The current upward move has reached level 10926 at the time of writing.

Note: Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results


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