DAX - Bullish Break of Ascending Triangle

by Gary Glover

The German Share Index (DAX) has been a leading global sharemarket index recently and has led most of the other major indices.  Last night it made a bullish break of a large ascending triangle pattern and these are generally very bullish patterns with an extremely high success rate.  The target for such a break gives us a target of 7000 which is a rally of approximately 10% from the break point.  This bodes well for most global indices including our major indice the ASX 200 : XJO.

Disclaimer

Gary Glover is an Authorised Representative (Rep No. 259215) of Novus Capital Limited ("Novus"). Novus is a holder of Australian Financial Services Licence No 238 168. Novus, its directors, officers, associates and employees each declare that they, from time to time, may hold interests in financial products and/or earn brokerage, commission, fees or other benefits from financial products mentioned in this e-mail or attached documents. Unless specifically stated within this page or an attached document, any information communicated by this e-mail constitutes unsolicited general financial product advice which has been compiled without regard to any investor's individual objectives, financial situation or needs. It is not specific advice for any particular investor. Before making any decision about the information provided, you need to consider the appropriateness of this information having regard to your individual objectives, financial situation and needs and consult your adviser. Any indicative information and assumptions used here are summarised and also may change without notice to you, particularly if based on past performance or relate to a future matter.