Aurum Markets Blog Technical Analysis Resistance line breached by DAX 40

Resistance line breached by DAX 40

Resistance line breached by DAX 40 post thumbnail image

DAX 40 has broken through a resistance line of a Ascending Triangle and suggests a possible movement to 22646.4403 within the next 2 days. It has tested this line in the past, so one should probably wait for a confirmation of this breakout before taking action. If the breakout doesn’t confirm, we could see a retracement back to lines seen in the last 7 days.

Supported by Upward sloping Moving Average

Target: 22646.4403 Entry: 22565.3227 Stop: 22224.1

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