Germany 40 index trades sideways

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


At the start of January, the Germany 40 stock index bounced off the resistance of the 2021 high level at 16,300.00. Afterwards, a decline occurred, which eventually found support in the May and October low level zone near 14,850.00. By February 1, the index had returned to the resistance of the 50 and 200-day simple moving average near 15,650.00.

In general, the index has been trading sideways since May. However, the rate of the fluctuations has been from the 14,850.00 level up to the high levels at 16,000.00/16,300.00.

In regards to the near term future, the index would need to pass the 50 and 200-day simple moving averages, before aiming at the 16,000.00 mark. Above the round price level, the 2021 high at 16,300.00 could once again act as resistance.

However, a potential decline would look for support in the 15,000.00 mark, before reaching the low level zone near 14,850.00.
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