themarketzone

Testing the bottom of a weekly triangle

FX:GER30   DAX index of German listed shares
The German DAX             was rejected last week, following the Brexit vote, from the 50 Weeks MA line - A setup I was monitoring and also shared with my members.
Despite the 8% decline, the DAX             was saved by the 200 weeks MA line and closed above it (however, it did close below the weekly downtrend line again)
The trading range -(9,000-10,000) that was confirmed by last week's price action and the weekly Triangle should be monitored during the near term future

Tomer, The MarketZone
Special post Brexit coverage this week..

This analysis is part of the Weekly Markets Analysis newsletters
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Comment: The Index will open next week with a breakout attempt (higher)
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