Germany 30 (DE30EUR) Is in a Sideways Move, Upward Move Likely

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

Germany 30 (DE30EUR) Long-term Trend: Ranging
The index is in a sideways move but faces resistance at level 13200. On November 10, a retraced candle body tested the 88.6% Fibonacci retracement. This indicates that the index will rise to level 1.1129 and perhaps reversed. However, the market is consolidating below the resistance.

Daily Chart Indicators Reading:
Presently, the SMAs are sloping upward indicating the uptrend. The index is at level 64 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: Ranging
On the 4- hour chart, the index is in a sideways move. The index is consolidating between levels 13000 and 13400. The bulls have been battling to break the upper price range to resume the uptrend. However, the range-bound levels are yet to be broken.

4-hour Chart Indicators Reading
The index is at level 42 of the Relative Strength Index period 14. It indicates that it is in the downtrend zone and below the center line. 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 a sideways trend. The upward move doubtful as the index may encounter a breakdown or breakout. The Fibonacci tool has indicated an upward movement of the market. However, this will be short-lived..

Note: Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results