German Redux

• 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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