Discover the latest insights on the Germany 30 CFD Index and how a potential bearish reversal could impact your investments.
Since its low on 10 September, the Germany 30 CFD Index has struggled to break above its 20-day moving average, raising concerns about a short to medium-term bearish reversal.
Key resistance at 18,660 is a crucial level to watch as the Index faces challenges in maintaining its current uptrend.
Key Elements Pointing Towards a Bearish Reversal
After a recent rebound, the Index has reached a critical resistance zone and is showing signs of a potential “bearish flag” chart pattern, indicating a possible reversal in price actions.
The 4-hour Stochastic oscillator is nearing extreme overbought levels, historically signaling a bearish reversal in the past.
Key Levels to Watch
The 18,660 resistance level is a key indicator for the Index’s future direction. A break below 18,390 could trigger a downward movement towards medium-term supports at 18,160 and 17,820.
On the other hand, a clearance above 18,660 could invalidate the bearish scenario and lead to a potential retest of the all-time high at 18,930/18,994.
Stay informed about the latest developments in the Germany 30 CFD Index to make well-informed investment decisions.
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