Germany 30 (DE30EUR) Reaches Bearish Exhaustion, Upward Move Likely

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

Germany 30 (DE30EUR) Long-term Trend: Bearish
Germany 30 is in a bear market. Surprisingly, the index fell and was in the oversold region since February 28. The price is ranging and stuck in the oversold region. Buyers ought to have emerged to push Germany 30 upward in the oversold region. However, since on March 17, the selling pressure has subsided as the market makes an upward move.

Daily Chart Indicators Reading:
DE30EUR has fallen into the oversold region below 20% range of the daily stochastic. The index has fallen into the oversold region since February 28. For over three weeks, the stochastic bands have been horizontally flat, as the bulls fail to emerge. The market remains oversold.

Germany 30 (DE30EUR) Medium-term Trend: Bearish
On the 4- hour chart, the index is in a bear market. The index is falling in the descending channel. The price dropped sharply to the low of 8400 and it is making an upward move.

4-hour Chart Indicators Reading
The index is currently at level 48 of the Relative Strength Index period 14. RSI is indicating that DE30EUR is in the downtrend zone. The 21-day SMA and the 50-day SMA are sloping southward.

General Outlook for Germany 30 (DE30EUR)
Germany 30 index is holding above 8000 price level. The market will resume an upward move if the index does hold. The index has been in the oversold region for the past three weeks. Buyers `are expected to emerge in the oversold region to push the price upward.

Instrument: Germany 30 (DE30EUR)
Order: Buy
Entry price: 8623
Stop: 8500
Target: 8823

Note: Learn2Trade.com 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