Germany 30 (DE30EUR) Uptrend Is Facing an Uphill Task to Break Level 14000

Key Resistance Zones: 12800, 13200, 13600
Key Support Zones: 11600, 11200, 10800

Germany 30 (DE30EUR) Long-term Trend: Bullish
Germany 30 is currently in an upward move. The uptrend is facing resistance at level 14000. On January 18, a retraced candle body tested the 50% Fibonacci retracement level. The retracement indicates that the index will rise and reach level 2.0 Fibonacci extension. That is the high of level 14549.60.

Daily Chart Indicators Reading:
DE30EUR is currently at level 54 of the Relative Strength Index period 14. The index is in the uptrend zone and above the centerline 50. This implies that the index is rising. The 21-day SMA and the 50-day SMA are sloping upward indicating the uptrend.

Germany 30 (DE30EUR) Medium-term Trend: Bullish
On the 4- hour chart, the index is in a sideways move below level 14000. On January 19 upward move, a retraced candle body tested the 50% Fibonacci retracement level. The retracement indicates that the index will rise and reach level 2.0 Fibonacci extension. That is the high of level 14225.50.

4-hour Chart Indicators Reading
Germany 30 is currently below 80% range of the daily stochastic. The price is retracing from the overbought region. Sellers may likely emerge in at overbought region. The SMAs are sloping upwards indicating an uptrend.

General Outlook for Germany 30 (DE30EUR)
Germany 30 is now in a bull market. The index is preparing for an upward move if the bulls break level 14000. The index is likely to rise as bulls break above the SMAs. The current upward move is likely to reach level 14225.50.



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