Germany 30 (DE30EUR) Is in a Strong Bullish Momentum, Reaches Overbought Region

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 13400. Buyers face rejection at level 13450. The index has been fluctuating for over three months. The index has plunged to the lower price range.

Daily Chart Indicators Reading:
Presently, the SMAs are sloping horizontally indicating the sideways move. The index is at level 50 of the Relative Strength Index period 14. This indicates that there is a balance between supply and demand.


Germany 30 (DE30EUR) Medium-term Trend: Bullish
On the 4- hour chart, the index was earlier in a downward move. It fell to level 12320 and resumed an upward move. The price is approaching level 12882. The index may face resistance at level 13200.

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

General Outlook for Germany 30 (DE30EUR)
DE30EUR is fallen to the lower price range. Presently, it has resumed the uptrend. At level 12900 resistance zone, the daily stochastic is indicating that price has reached the overbought region. In a trending market, the overbought or oversold conditions may not hold.



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