Annual Forecast for Germany 30 (2021): DE30EUR Expects To Continue Bullish Momentum in 2021


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

In the first quarter of 2020, the index was in a downward move. Germany 30 has an opening balance of 13156.20. From January, the index crashed to level 7957, 60 in March. The bulls buy the dips as the market resumed its upward move in April.

The uptrend resumed in April but was terminated in August. The index faced some resistance in August. In September and October, the market encountered another downward move. Germany 30 has recovered in November as the market reached a high of 13815.60 in December.

DE30EUR -Monthly Chart

Germany 30 (DE30EUR) Price Predictions: Monthly Chart
The uptrend was a vertical rally. The first rally ended in August but there was a breakdown that tested the trend line in October. Assuming the trend line was broken in October; the uptrend would have been terminated.

DE30EUR – Weekly Chart

Germany 30 (DE30EUR) Price Predictions: Weekly Chart
Here, the uptrend is not in a vertical rally. The index reached a high of level 13000 and resumed a sideways move. The sideways move was ended as bulls broke level 13000 to resume upward. The uptrend is ongoing.

In 2020, Germany 30 recovered from the earlier breakdown in the first quarter of the year. The current uptrend has surpassed the previous years. The RSI is at level 59 which suggests that the index has enough room to rally on the upside.

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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.