Germany 40 Index hits resistance zone

Note: This section contains information in English only.
Source: Dukascopy Bank SA


The German top 40 stock index hit a low level on March 6 at 12,450.00. This level is notable with the fact that it had acted as resistance and support to surges since 2018. The level has been capable of reversing one month long recoveries and keeping the index from declining for a period of up to three months.

The finding of support resulted in a major recovery of the index, as it passed previous low and high levels, encountering resistance and finding support in them. In general, on April 1, the index had declined after recently having touched the resistance of the 14,830.00/14.950.00 zone.

If the index declines, it might look for support first in the early 2021 high level zone at 14,130.00/14,200.00. More recently, the zone acted both as support and resistance during mid-March. Further below, take into account the early 2021 low levels at 13,650.00 and the Late 2020 high and 2021 low zone at 13,275.00/13,465.00. However, these levels did not act as major resistance and support levels during March.

Meanwhile, a surge of the German stocks would have to pass the 14,830.00/14,950.00 zone and the 15,000.00 level. Above these levels the 200-day simple moving average and the 15,500.00 mark are highly likely set to slow down a recovery of the stocks. Higher above, the 16,000.00 level is expected to act as resistance, before the 2021 high level at 16,300.00 would be reached.
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