DAX Coiling for Breakout
Germany's DAX index has spent the last six months or so coiling within an ever-tighter symmetrical triangle pattern centered at 18,500.
With other non-tech-focused indices like the Dow Jones Industrial Average and FTSE 100 breaking out of their own consolidation patterns, German investors will be hoping for a similar bullish break to record highs near 19K. Meanwhile, a bearish breakdown below 18K could target the 200-day MA near 17.5K next.
-MW
With other non-tech-focused indices like the Dow Jones Industrial Average and FTSE 100 breaking out of their own consolidation patterns, German investors will be hoping for a similar bullish break to record highs near 19K. Meanwhile, a bearish breakdown below 18K could target the 200-day MA near 17.5K next.
-MW
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