Germany 30 (DE30EUR) Continues Sideways Trend below Level 13200 Resistance

Germany 30 (DE30EUR) Continues Sideways Trend below Level 13200 Resistance

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 for over three months.

DE30EUR – Daily Chart

Daily Chart Indicators Reading:
Presently, the SMAs are sloping horizontally indicating the sideways move. The index is at level 55 of the Relative Strength Index period 14. This indicates that the market 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 trend. In September, the index fluctuates in a tight range between 13100 and 13300. The upward move is facing resistance at level 13300. The market is now fluctuating in the middle of the price range. The price movement has no clear direction.

DE30EUR – 4 Hour Chart

4-hour Chart Indicators Reading
The market is below the 60% range of the daily stochastic. It indicates that the market is in a bearish 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 has no direction of price movement. The sideways move has continued to linger on


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

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