These 2 Global Stock Indexes Are Testing Breakout Levels
Chris Kimble | Apr 11, 2019 02:40PM ET
The steep correction in the U.S. stock market is reverberating around the world as several stock market indexes have fallen in unison.
Some markets corrected more than others. And most markets are now rallying, along with those in the U.S..
But the rally off the lows means more to investors when we see major resistance taken out in the form of a breakout.
Today, we look at two global stock indexes that are testing breakout resistance levels: Germany's DAX 30 and Hong Kong stocks by way of the EWH ETF.
The German was hit hard and has been a laggard during the global stock-market recovery/rally phase. BUT, it’s testing it’s downtrend resistance line (1). A breakout would go a long way in stabilizing the European markets.
As well, the Hong Kong ETF is testing its 2018 highs (1). A breakout here would be bullish for EWH investors.
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