With much confidence, Europe’s largest economy saw investor & trader confidence bolster as the German DAX 30 reached +286.3 point rally on the week, closing up at +2.35%. This is the 3rd bullish week in a row.
This power drive comes off the ECB’s €20 billion a month bond-buying program. Mario Draghi announced last Thursday that the ECB will purchase EU bonds to support spending, and lowered interest rates down -10 basis points to -0.5%. This, in fact, means that borrowers exactly or less on their loans at its maturation.
This stirs market spending because loans are cheaper for banks, business, and consumers.
With this news, we saw a rally to our Inverted Head & Shoulders Pattern target of $12,450. This call profited a total of about +4.2%!
THE PLAY: Sidelined. We are waiting to see if the DAX rallies on sentiment or forms a correction pattern to pull back for a future rally.
This power drive comes off the ECB’s €20 billion a month bond-buying program. Mario Draghi announced last Thursday that the ECB will purchase EU bonds to support spending, and lowered interest rates down -10 basis points to -0.5%. This, in fact, means that borrowers exactly or less on their loans at its maturation.
This stirs market spending because loans are cheaper for banks, business, and consumers.
With this news, we saw a rally to our Inverted Head & Shoulders Pattern target of $12,450. This call profited a total of about +4.2%!
THE PLAY: Sidelined. We are waiting to see if the DAX rallies on sentiment or forms a correction pattern to pull back for a future rally.