Germany 30 (DE30EUR) in an Uptrend, Battles 10800 Resistance

Germany 30 (DE30EUR) in an Uptrend, Battles 10800 Resistance

Key Resistance Zones: 12800, 13200, 13600
Key Support Zones: 11600, 11200, 10800

Germany 30 (DE30EUR) Long-term Trend: Bullish
Germany 30 is currently in an upward move but it is currently facing resistance at level 10800. Since April 13, the bulls have failed to penetrate level 10800. Rather, the market is trading below the resistance. On the upside, if the bulls break above the current resistance, the market will reach level 11600. The sideways move will continue if the bulls fail to breach the resistance.

DE30EUR – Daily Chart

Daily Chart Indicators Reading:
DE30EUR is currently at level 51 of the Relative Strength Index period 14. The index is in the uptrend zone and above the centerline 50. This implies that the index is rising. The 21-day SMA and the 50-day SMA are sloping upward indicating the uptrend.

Germany 30 (DE30EUR) Medium-term Trend: Bullish
On the 4- hour chart, the index is making an upward move. The upward move is terminating at the resistance of 10800. As bulls were unable to break the resistance, the index has been compelled to a sideways move. The bulls have made two unsuccessful attempts at the resistance. The market is making an upward move to retest the resistance.

DE30EUR – 4 Hour Chart

4-hour Chart Indicators Reading
Germany 30 is currently above 80% range of the daily stochastic. The price is approaching the overbought region. Sellers may likely emerge in the overbought region. The SMAs are sloping upwards indicating an uptrend.

General Outlook for Germany 30 (DE30EUR)
Germany 30 is now in a bull market. The upward move is currently facing resistance at 10800. The index is in a bullish momentum but presently consolidating below the resistance.

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