Germany 30 (DE30EUR) Is in an Uptrend, May Face Resistance at Level 13200

Germany 30 (DE30EUR) Is in an Uptrend, May Face Resistance at 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 13400. Buyers face rejection at level 13450. The index has been fluctuating for over three months. The index has risen and it is approaching the resistance line to break above it.

DE30EUR – Daily Chart

Daily Chart Indicators Reading:
Presently, the SMAs are sloping horizontally indicating the sideways move. The index is at level 57 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: Bullish
On the 4- hour chart, the index is making an upward 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.

DE30EUR – 4 Hour Chart

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

General Outlook for Germany 30 (DE30EUR)
DE30EUR is now making an upward move. The uptrend has reached a high of 13100 and may face resistance at level 13200.


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Author : Azeez Mustapha

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Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.