themarketzone

Breakout and a close above 200 days MA

FX:GER30   DAX index of German listed shares
7 months ago
The German DAX             exploded last week above its daily downtrend line and closed above the 200 days MA.
To prove that it is a genuine breakout, the DAX             will need to re-test 10,000 structure zone (support now) and rally from it higher.
The index completed small bearish Gartley (Gery) near 10500 and that can be the trigger for a short term pullback towards 10,000.

A close below 10,000 will create a False Break and therefore a bearish signal that can be catastrophic for the German Index .

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Tomer, The MarketZone
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7 months ago
Comment: Target was reached - Now testing support
6 months ago
Comment: Looks like we are going down from here. Failed to hold support, back below the downtrend line... we will have to see the weekly close to confirm but for now it looks bearish
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Tomer J,
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