A Look into the German Stock Index – July 15, 2010

The German Stock Index (^DAX) consists of the 30 major German companies trading in the Frankfurt Stock Exchange. Some of the notable companies included in this index are Adidas, BWM, Deutsche Bank and Volkswagen Group. Anyway, the chart of the ^DAX could be forming an ascending triangle formation. If the value breaks above the triangle’s resistance, the next price mark could be 6,626.70. If the 6,626.70 marker gets cleared out, the next resistance could be 6,855.84. In case the index starts heading south, the immediate support could be the uptrend. If the value further slides below the uptrend, the next support could be 5,809.37.