Germany 30 (DE30 EUR) Pushes Upward, Targets 11340 Resistance

Germany 30 (DE30 EUR) Pushes Upward, Targets 11340 Resistance

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. The upward move is making a series of higher highs and higher lows. A bearish candlestick has been resisted after testing 11340 resistance. The market fell from the recent high to level 10500. At level 10500, the market makes another upward move. Presently, the upward is facing resistance at level 11000.

DE30EUR – Daily Chart

Daily Chart Indicators Reading:
Presently, 50-day SMA and 21-day SMA are sloping upward indicating the upward move. The index is at level 55 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. On April 30, the market reached a high of 11340. The bulls were resisted at the recent high as the market fell to 10400 low. At the support line, the uptrend was terminated at level 11000.

DE30EUR – 4 Hour Chart

4-hour Chart Indicators Reading
The market is currently below 80 % range of the daily stochastic.
It is in the bearish momentum. The SMAs are sloping upward indicating the upward move.

General Outlook for Germany 30 (DE30EUR)
DE30EUR is in an upward move. The previous uptrend was terminated at level 11000. The bulls are retesting the previous higher high of 11340. On the upside, a break above 11000 will propel price to reach a high of 11340.

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