Germany 30 (DE30EUR) Resumes Downward Move after Facing Strong Rejection from Level 13200

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. All price movements get terminated at level 13200. The index has been fluctuating since June. The index is falling and making a downward move.

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 price makes an upward move but faces rejection at level 13200. The market is now fluctuating in the middle of the price range. The price movement has no clear direction.

4-hour Chart Indicators Reading
The market is below the 50% range of the daily stochastic. It indicates that the market is in a bearish 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 in a downward move after testing the upper price range. The index is yet to break away from the current price range.


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