HomeContributorsTechnical AnalysisGER 30 Looks To Break Out Of Triangle

GER 30 Looks To Break Out Of Triangle

The DAX 30 consolidates near its recent peak as the euro zone’s economy picks up steam.

The index is in an ascending triangle as buyers are willing to pay up. This often occurs as a continuation pattern as the price will typically breakout in the same direction as the underlying trend.

A close above 15750 may prompt the last sellers to cover. The RSI stays neutral, laying the groundwork for a breakout. A runaway rally could lift offers towards the milestone at 16000.

A drop below 15500, however, may trigger a correction to 15280.


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