DAX - Bullish Continuation Descending Triangle

Aug 28, 2016

It was a pain trading the DAX all of last week. Several candles indicated tactical bounces off important breakout supports around 10470 - 490, however the index failed to distance itself from key supports, decisively. Friday ended the week with a bullish engulfing pattern. Bigger picture, we are looking at a descending triangle pattern, which I expect to resolve higher, given the bullish backdrop since February.

Aug 30, 2016

Note

breaking out today - bullish!!