- Posted by Greg Harmon
- on October 11th, 2013
About a month ago I wrote about the opportunity in the German market in Buy Germany. Many did not want to jump in front of the election process and missed a 4% run. The good news is that that opportunity is presenting itself again. Take a look.
The chart above shows that the Germany iShares ETF, $EWG, has been consolidating between 27.50 and 28.25 for a little over 3 weeks. But it is now at the resistance level and has support from a bullish Relative Strength Index (RSI) and a MACD that is turning back up, for a break higher. The Measured Move would take it to 30.25. This market also comes with out any discussion of a debt ceiling or government shutdown. What else could you ask for?
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Gregory W. Harmon CMT, CFA, has traded in the Securities markets since 1986. He has held senior positions including Head of Global Trading, Head of Product Development, Head of Strategy and Director of Equity. (More)
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