Chartology: German DAX Technical Update

Stock ChartsAs per usual, the world is asked to wait and wait a little longer on Europe (see previous DAX chartology). The market lost some short term patience a couple weeks back when the German DAX slipped out of a rising wedge pattern on the daily chart. This led to a 3 percent drop (so far) and has some investors pushing for a plan out of Mario Draghi and Europe… and soon. And they just may get what they’re looking for soon. But question is, will they like what they hear?

Near term, watch 6850-6900 support. See daily and weekly bar charts below.

More charts found here.

DAX chart, German DAX, chart, german stock market, germany, market index, technical chart, analysis

Sign up for our FREE newsletter
and receive our best trading ideas and research



DAX chart, german stock market chart, germany, stock market, chart analysis, long term german stock market chart

German DAX stock market charts as of August 31, 2012.  DAX charts with trend lines and technical support levels. German stock market. DAX technical analysis. 

Twitter:  @andrewnyquist and @seeitmarket     Facebook:  See It Market

No position in any of the securities mentioned at the time of publication.

Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of his employer or any other person or entity.