Germany 30 (DE30EUR) Resumes Uptrend, May Face Rejection at Level 13100

Germany 30 (DE30EUR) Resumes Uptrend, May Face Rejection at Level 13100

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 12000 and 13000. The index fell to level 12900 and it is making an upward move. It is unclear the extent of the upward move. There will be further price movement if the level 13000 is breached.

DE30EUR – Daily Chart

Daily Chart Indicators Reading:
Presently, the SMAs are sloping upward indicating the upward move. The index is at level 54 of the Relative Strength Index period 14. This indicates that the market is in the uptrend zone and above the centerline 50. The index is presently rising.

Germany 30 (DE30EUR) Medium-term Trend: Ranging
On the 4- hour chart, the index was resisted in the August 11 uptrend. The last red candle retraced and tested the 0.50 Fibonacci retracement level. This indicates that the market will reach a high of level 2.0 Fibonacci extension level.

DE30EUR – 4 Hour Chart

4-hour Chart Indicators Reading
The market is currently a 25% range of the daily stochastic. It indicates that the market is in a bullish momentum. Meanwhile, the 50-day SMA and the 21-day SMA are sloping upward indicating the upward move

General Outlook for Germany 30 (DE30EUR)
DE30EUR is still fluctuating between levels 12000 and 13000. The index is making an upward move at level 12800. However, the upward move is doubtful if price fails to break the resistance at level 13100.

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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