Why it's an interesting time to trade the German stock market
The German DAX index has rallied following the Brexit delay. Our chartist looks at price potentials.
17th April 2019 08:51
by Alistair Strang from Trends and Targets
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The German DAX index has rallied following the Brexit delay. Our chartist looks at price potentials.
The German market is becoming interesting, visually appearing relieved that Brexit has been delayed. The situation now is of movement above 12,120 indicating coming recovery to an initial 12,293 points.
If bettered, secondary is a longer term 12,486 points. At this point, we'll probably commence drooling slightly as the index becomes capable of a third target level.
It's the third target of 12,677 which is noteworthy, taking the market within sight of an important trigger level.
In the event the DAX closes a session above 12,775 points, from our perspective it triggers a longer-term rising cycle to 14,153 points.
This is perhaps something worthy of consideration for the future.
For the index to get into trouble, it needs below 11,574 points. Weakness such as this will suggest some travel down to an initial 10,929 points with secondary, if broken, at 10,506 points.
Source: TradingView Past performance is not a guide to future performance
Alistair Strang has led high-profile and "top secret" software projects since the late 1970s and won the original John Logie Baird Award for inventors and innovators. After the financial crash, he wanted to know "how it worked" with a view to mimicking existing trading formulas and predicting what was coming next. His results speak for themselves as he continually refines the methodology.
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