Germany 30 (DE30EUR) Is in the Oversold Region, Buyers Emergence Likely

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

Germany 30 (DE30EUR) Long-term Trend: Bearish
The index is now in a downtrend. The index fell to the low of 11453.80 and reached the oversold region. There are bullish signals as buyers emerged from the oversold region. The bulls have taken over as the market reached the high of 11771.90.

Daily Chart Indicators Reading:
Presently, the SMAs are sloping southward indicating the downtrend. The index is at level 33 of the Relative Strength Index period 14. This indicates that it is in the downtrend zone and below the centerline 50.

Germany 30 (DE30EUR) Medium-term Trend: Bullish
On the 4- hour chart, the index is on an upward move. On October 30 uptrend; a retraced candle body tested the 50% Fibonacci retracement level. This is an indication that the market will rise and reach level 2.0 Fibonacci extension. In other words, the market will reach level 11898.40.

4-hour Chart Indicators Reading
The market is above the 30% range of the daily stochastic. It indicates that the index is in bullish momentum. The price has reached the overbought region. Meanwhile, the 50-day SMA and the 21-day SMA are sloping upward indicating the uptrend.

General Outlook for Germany 30 (DE30EUR)
DE30EUR is now making an upward move. According to the Fibonacci tool, the market will rise and reach level 2.0 Fibonacci extension. That is the high of level 11898.40.


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