Chop for Germany but imminent breakout luring Ok we are not supposed to make predictions but only reactions to trading right?
Well this time I am making a prediction.
Since the chop sideways box has been forming, a breakout is imminent.
Either it will break up and head to the initial target of 25,113.
Or it will breakdown and the market will have a correction.
Either way, the breakout will occur because Germany can't just stay in this range forever right?
So why the chop?
🌍 DAX strong abroad, weak at home
🐌 Earnings lag behind U.S. peers
🏛️ Bureaucracy & labor shortages drag
Let's hope for some optimistic news with DAX and that we do get a breakout and up to 25,113.
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
