Germany 30 (DE30EUR) Continues Uptrend, Targets Level 14518.60

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

Germany 30 (DE30EUR) Long-term Trend: Bullish
Germany 30 is in an upward move but it is facing resistance at level 13800. On December 17 uptrend, a retraced candle body tested the 50% Fibonacci retracement. The retracement indicates that the index will rise to level 2.0 Fibonacci extension. That is the high of 14518.60.

Daily Chart Indicators Reading:
Presently, the SMAs are sloping upward indicating the uptrend. The index is at level 60 of the Relative Strength Index period 14. This indicates that it 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 in an upward move. On December 28 uptrend, a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement indicates that DE30EUR will rise to level 1.272 Fibonacci extension and reverse. That is the high of 14060.0.

4-hour Chart Indicators Reading
The market is above the 40% range of the daily stochastic. It indicates that the index is in a bullish momentum. Meanwhile, the 50-day SMA and the 21-day SMA are sloping upward indicating the uptrend.


General Outlook for Germany 30 (DE30EUR)
DE30EUR is in an upward move. The upward move is facing rejection at level 13800 resistance zone. A breakout at the resistance will push the index to resume a fresh uptrend. According to the Fibonacci tool analysis, the index will rise to level 14518.60.

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