Germany 30 (DE30EUR) Struggles below Level 13350, May Face Rejection

Azeez Mustapha
14 December 2020 | Updated: 14 December 2020

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

Germany 30 (DE30EUR) Long-term Trend: Bullish
Germany 30 is an upward move but it is facing resistance at level 13350. It was most likely to reach bullish exhaustion as it faces rejection. On November 10, a retraced candle body tested the 88.6% Fibonacci retracement. This indicates that the index will rise to level 1.1129 and perhaps reversed.

DE30EUR – Daily Chart

Daily Chart Indicators Reading:
Presently, the SMAs are sloping upward indicating the uptrend. The index is at level 55 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: Ranging
On the 4- hour chart, the index is in a sideways move. The upward move is facing rejection at level 13450. On December 11, the index plunged to level 13040 and resumed upward. The current uptrend is likely to retest the resistance at level 13450.

DE30EUR – 4- Hour Chart

4-hour Chart Indicators Reading
The market is above the 40% range of the daily stochastic. It indicates that the index is in a bullish momentum. Meanwhile, the 50-day SMA and the 21-day SMA are sloping upward indicating the uptrend.


General Outlook for Germany 30 (DE30EUR)
DE30EUR is in an upward move. The upward move is facing rejection at level 13350 resistance zone. A breakout at the resistance will catapult the coin to resume a fresh uptrend.



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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Azeez Mustapha

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.