Germany 40 index recovers

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


Despite being shortly pierced, the support of the 15,000.00 held. After trading above the support level for seven trading sessions, on December 7, the Germany 40 index recovered. The passing of the resistance of the 200-day simple moving average resulted in a 2.80%.

In regards to the future, the index could first test the 2021 August and September high level zone that surrounds the 16,000.00 mark. Above the 16,000.00 level, the price might find resistance in the all-time-high level at 16,300.00.

On the other hand, a bounce off from the August and September high level zone would highly likely result in the index looking for support in the 50-day simple moving average near 15,650.00. Below the 50-day SMA, the index might find support in the 200-day SMA near 15,500.00. If both of the SMAs fail, Germany 40 index could once again reach the 15,000.00 mark.
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