by Greg Harmon
Apologies to any German speakers if I butchered the title. Its the best I can do with Google Translate. But the message is the same. The chart for the German $DAX is looking great and breaking out on the daily timeframe below. The Measured Move higher takes it to 9595 if it can get over the previous high at 8557.86. It also has support from the Relative Strength Index (RSI) which is rising and bullish and a Moving Average Convergence Divergence indicator (MACD) that has crossed up. And just in time for Oktoberfest!
Even if you aren’t in the Rhineland with a 2 liter Stein and a pretzel you can participate. The Germany iShares, $EWG, is also on the verge of a break out. The rising channel is being tested as you sip with a move over 27.25 triggering a long position. The RSI and MACD on this one also support more upside, and since the driver is the actual German DAX there is added weight in the bullish case. Order another round and join the Oompah Band for a trip higher.
No comments:
Post a Comment