Germany 40 index aims at high levels

Source: Dukascopy Bank SA


On Friday, October 29, the Germany 40 index found support in the 15,500.00 mark. By doing so, the rate, first of all, reveled a channel up pattern, which captures the October surge. Secondly, the index appears to be heading to this year's high level zone at 15,940.00/16,035.00.

A continuation of the surge would most likely test the resistance of the high levels at 15,940.00/16,035.00. A passing of these levels would see the index at new all-time-high levels.

On the other hand, a bounce off from the high level zone might force the index into looking for support in the channel up pattern's lower trend line.
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