The German Stock Market has been a quality leader in both directions the past few years. Below looks at why one might want to keep a “close eye” on this key global stock index, to see if it can hop over a important breakout level.
(Click on image to enlarge)
Similar to the S&P 500 and many stock indices in the states, the DAX index remains inside of a uniform rising 6-year channel, since the 2009 lows.
The DAX over the past year has created a series of lower highs along line (2).
The “risk on” trade in the states wants/needs the DAX to breakout above resistance for stocks indices in the states to keep moving higher.
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