Germany 30 (DE30EUR) Is in a Sideways Trend, Faces Rejection at Level 13200

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

Germany 30 (DE30EUR) Long-term Trend: Ranging
Germany 30 is range-bound between levels 12200 and 13200. Buyers face rejection at level 13200. The index has been fluctuating since June. It fluctuates at the resistance zone.

Daily Chart Indicators Reading:
Presently, the SMAs are sloping horizontally indicating the sideways move. The index is at level 51 of the Relative Strength Index period 14. This indicates that the market is in the uptrend zone and above the centerline 50. Supply and demand are said to be balanced.

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 above the 20% range of the daily stochastic. It indicates that the market is in a bullish momentum. 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 range-bound between levels 12400 and 13200. The index is facing rejection at levels 13200 and 13400. Each time price retests the resistance zone , the index will fall into the range.



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