Germany 30 (DE30EUR) May Resume Downward Move, Unable to Break Level 13100

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

Germany 30 (DE30EUR) Long-term Trend: Ranging
The index is range-bound between levels 12400 and 13200. The index fell to level 12900 and it is making an upward move. The price is now testing the resistance level. A downward movement of prices is expected.

Daily Chart Indicators Reading:
Presently, the SMAs are sloping upward indicating the upward move. The index is at level 58 of the Relative Strength Index period 14. This indicates that the market is in the uptrend zone and above the centerline 50. The index is presently rising.

Germany 30 (DE30EUR) Medium-term Trend: Ranging
On the 4- hour chart, the index is in a sideways trend. The index is in an uptrend and it is facing rejection at level 13100. Buyers have been rejected on three occasions at the resistance. The index is likely to make a downward move to the lower price range.

4-hour Chart Indicators Reading
The market is currently above 80% range of the daily stochastic. It indicates that the index is in a bullish momentum. The market has reached the overbought region. Meanwhile, the 50-day SMA and the 21-day SMA are sloping sideways indicating the sideways trade

General Outlook for Germany 30 (DE30EUR)
DE30EUR is still fluctuating between levels 12400 and 13200. The index is likely to make a downward move as price has been resisted.




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