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