The GER30 index is sinking with the economy of its country

  • Jul 20 2021
  • by
  • Analyst AZA
The GER30 index is sinking with the economy of its country

The GER30 index is sinking with the economy of its country

The recent flooding in Germany could not but affect the economic situation in the country. The economy suffered significant damage and this was immediately reflected in the graph of the GER30 index. The index is just the arithmetic average of the top 30 companies that are included in it. If the business of these companies is in crisis, then stock prices will fall. After the sideways movement, the price of the index fell sharply but was able to recover slightly. Therefore, we will take a wait-and-see attitude and see how events will develop further. You can use level 15040 as a point of entry into the market and opening a position. If in the near future the price falls and breaks this level, then most likely the downward price movement will continue. A Take Profit order could be placed at flat 14900 or below 14830 where the price will find strong support.

Symbol: GER30
Order Type: Pending Order - Sell Stop
Entry Price at 15040
Take Profit at 14900
Pips Earning: 140

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The profit can be $169.90 if the trading volume of 1 FUT.

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