German 40 IndexAlış
Few like European equity, but they should - GER40 to new highs
Few like investing in Europe at present, and while France remains constrained by political risk, the German equity index (GER40) is doing everything right from a technical and price action perspective, and positioning for further upside seems the play.
Having held the 19k support level throughout November, the bulls have built a solid platform to progress, taking the index through downtrend resistance & backed by solid range expansion and the index closing on weekly highs.
The ATHs are now being tested, subsequently, a closing break through 19.679 would encourage momentum accounts to chase the upside as we roll into the ECB meeting (12 Dec) and year-end.
A daily close below the 5-day EMA would be a signal to turn cautious, flipping to outright shorts on a closing break of 19k. But for now, long and strong seems the higher probability position.
Good luck to all.
Having held the 19k support level throughout November, the bulls have built a solid platform to progress, taking the index through downtrend resistance & backed by solid range expansion and the index closing on weekly highs.
The ATHs are now being tested, subsequently, a closing break through 19.679 would encourage momentum accounts to chase the upside as we roll into the ECB meeting (12 Dec) and year-end.
A daily close below the 5-day EMA would be a signal to turn cautious, flipping to outright shorts on a closing break of 19k. But for now, long and strong seems the higher probability position.
Good luck to all.
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