Don't Ignore This Chart!

German DAX breaks ascending triangle resistance

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The German DAX Index ($DAX) continues to lead the world with an ascending triangle breakout. These are bullish continuation patterns. The height of the pattern (±700) is added to the resistance breakout for an upside target. With resistance at 6350, this targets a move to around 7000.

101018dax
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Arthur Hill
About the author: , CMT, is a Senior Technical Analyst at StockCharts.com. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London. Learn More
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