The German index has escaped from the descending channel and now is moving upward. The rate is trading above the 23.6% retracement level, looks like that the corrective phase has ended. DAX30 wasn’t able to stay too long below the 38.2% level and also has failed to retest the lower median line of the descending pitchfork. We have a resistance area between 11623 and the 11632 level, but my feeling is that the price will continue to grow.


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