Germany 30 (DE30 EUR) Is in a Strong Uptrend, Approaches Level 12000

Germany 30 (DE30 EUR) Is in a Strong Uptrend, Approaches Level 12000

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

Germany 30 (DE30EUR) Long-term Trends: Bullish
The index is in an uptrend. The bulls have reached level 11871 and it is approaching level 12000. According to the Relative Strength Index, the index is approaching the overbought region of the market. At level 12000, the market may reach the overbought region.

DE30EUR – Daily Chart

Daily Chart Indicators Reading:
The index is at level 68 of the Relative Strength Index period 14. This indicates that the market is in the uptrend zone and above the centerline 50. The SMAs are sloping upward indicating the upward move. The moving averages have a bullish crossover.

Germany 30 (DE30EUR) Medium-term Trend: Bullish
On the 4- hour chart, the index is an upward move. A correction candle body tested the 0.382 Fibonacci retracement level. This indicates that the index will rise and reach level 2.618 Fibonacci extension level. At first, the market will reach a high of 1.618. At other times it will move up to 2.618 extension level.

DE30EUR – 4 Hour Chart

4-hour Chart Indicators Reading
The market is currently above 50 % range of the daily stochastic. It implies that the index is in a bullish momentum. The 21-day and 50-day SMAs are sloping upward indicating the uptrend.


General Outlook for Germany 30 (DE30EUR)
DE30EUR has resumed the uptrend and it is approaching level 12000. The uptrend is likely to continue to 2.618 Fibonacci retracement level. The Relative Strength Index is indicating the market will reach the overbought region.



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Author : Azeez Mustapha

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Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.