GER30 Upbeat at the Final Stretch of the Year
GER30
The German Index enters its fourth straight day of profits as Omicron fears ease, setting fresh December highs today and gaining more than 5% on the month.
It tries to take 16.000-32 out and a daily close above the upper border of the Ichimoku Cloud will strengthen its aspirations for fresh record highs (16.302).
Past Performance: Past Performance is not an indicator of future results.
Looking at smaller timeframes though, the Relative Strength Index reveals overbought conditions, which could lead to downward pressure and new week lows (current at 15.835), but the downside looks protected.
The EMA200 at around 15,680-90 can contain such moves, but a break would pause the upward bias and bring the 200Day EMA in the spotlight (at around 15,300).
In any case, technicals may be in the background, as holiday thinned trading can affect the move of the index.
Past Performance: Past Performance is not an indicator of future results.
Nikos Tzabouras
Senior Financial Editorial Writer
Nikos Tzabouras is a graduate of the Department of International & European Economic Studies at the Athens University of Economics and Business. He has a long time presence at FXCM, as he joined the company in 2011. He has served from multiple positions, but specializes in financial market analysis and commentary.
With his educational background in international relations, he emphasizes not only on Technical Analysis but also in Fundamental Analysis and Geopolitics – which have been having increasing impact on financial markets. He has longtime experience in market analysis and as a host of educational trading courses via online and in-person sessions and conferences.
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