Germany 40 index reaches low level zone

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


The Germany 40 index ended its surge on October 20, when the channel up pattern that had guided the index since the start of October, failed. The event resulted in a decline to the support zone at 15,000.00/15,050.00. Namely, the index has found support in the September low level and the psychological effect of the round price.

If the index passes below the 15,000.00 level, it could look for support in the October low level zone at 14.827.00/14.863.00. Below this zone, early 2021 notable levels could provide support at 14,400.00, 14,200.00 and 13,850.00.

A recovery of the German index would have no resistance as high as the 200-four hour period simple moving average near 15,830.00. Above the SMA, note the 50-four hour period SMA near 16,000.00 and the 15,950.00/16,020.00.
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