Germany 30 (DE30 EUR) Sustains Above 10000, Breaches More Resistances

Germany 30 (DE30 EUR) Sustains Above 10000, Breaches More Resistances

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

Germany 30 (DE30EUR) Long-term Trend: Bullish
The index has continued to push upward as the resistance at 20000 has been breached. The price also has broken the 21-day SMA which was earlier a resistance. However, the market is likely to face another resistance as DE30EUR approaches the overbought region. The current uptrend may reach a high of 12000 but faces resistance at 11000.

DE30EUR – Daily Chart

Daily Chart Indicators Reading:
DE30EUR is presently at level 54 of the Relative Strength Index period 14. This explains that the market is in the uptrend zone and above the centerline 50. We should expect the continuation of the upward move.

Germany 30 (DE30EUR) Medium-term Trend: Bullish
On the 4- hour chart, the index is now in an uptrend. After breaking the resistance at 10000, the upward move has been strengthened. A bullish trend line has been drawn to indicate the support level. The upward movement will continue as long as price is above the trend line and the EMAs.

DE30EUR – 4 Hour Chart

4-hour Chart Indicators Reading
Germany 30 is currently above 75 % range of the daily stochastic.
It means that the market is in bullish momentum. At the moment, price is approaching the overbought region of the market. The upward move may be hindered in the days to come.

General Outlook for Germany 30 (DE30EUR)
The index is approaching the bullish trend zone as it reaches a high of 12000. It faces resistances at 11000 and 12000 as the uptrend progresses. The stochastic and the RSI are pointing an upward move for the coin.

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Author : Azeez Mustapha

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Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.