Main German Index has always had an excellent reputation of ever-gainer.
Now however, German economy has been slowing down for years and the outlook is far from bright. At least in my view.
The price has reached the technical resistance at FR 127.2 and reacted to it. It has been consolidating in between FR 127.2 and FR 100 since June 5th, and on July 31st it broke the SMA 50 with a strong move down. Now the price is testing the SMA 50 from below. If it holds and price breaks down below FR 100, we may see a significant correction on this instrument.
Just my humble opinion.
Now however, German economy has been slowing down for years and the outlook is far from bright. At least in my view.
The price has reached the technical resistance at FR 127.2 and reacted to it. It has been consolidating in between FR 127.2 and FR 100 since June 5th, and on July 31st it broke the SMA 50 with a strong move down. Now the price is testing the SMA 50 from below. If it holds and price breaks down below FR 100, we may see a significant correction on this instrument.
Just my humble opinion.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.