An eye on the bulls in Germany

The German equity (IG quote this as Germany 30) market looks strong and I have looked at the weekly chart.

Stock Exchange
Source: Bloomberg

As you can see, the index is once again knocking on the 10,000 level, but  seems to find strong supply present. Momentum and trend indicators suggest holding a long bias, but I would personally look to buy the break and wait for a weekly-close above the June high of 10,048.

Stops and profit targets can be looked at once the entry has been achieved. However, I prefer to wait for the market to show firm control from the bulls before entering here.

Click to enlarge

IGA, may distribute information/research produced by its respective foreign marketing partners within the IG Group of companies pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, IGA accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore recipients should contact IGA at 6390 5118 for matters arising from, or in connection with the information distributed.

This information/research prepared by IGA or IGA Group is intended for general circulation. It does not take into account the specific investment objectives, financial situation or particular needs of any particular person. You should take into account your specific investment objectives, financial situation or particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. In addition to the disclaimer above, the information does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. Any views and opinions expressed may be changed without an update.

See important Research Disclaimer.