As noted in a previous post on 14th of October 2010, the German DAX Index brokeout of a rectangle with a breakaway gap and has just reached its mentioned breakout target around 6900 points where also an upper channel line is located. A correction is more likely to follow towards 6500 points (the 50 EMA and the uptrend line) or even lower towards the upper side of the rectangle (around 6350 points). Nevertheless the target of the ascending triangle breakout located around 7200 points has not been reached though its potential is rather dim for the moment.
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