 Hello and welcome to the chart of the week video with me Dave Madden Today's date is Friday the 15th of June 2018 and the time has just gone 12 50 for the summer time This week's chair to week is the tax or the Germany 30 as you call it on a platform At the journey to the German market along with other years and equities can image boost yesterday on the back of the much Dover the next dovish and expected update from Mario Draghi of the European Central Bank There's a draggy points Pointed out that the the ECB's bond buying scheme will wind down in 2018 as expected But we're not kind of a rate rise from the European Central Bank until at least the back end of 2019 if we have one at all next year Had the result was that we saw a major sell-off in the euros in the Euro and in turn We also have a decent push higher in Eurozone equities So this is this up with this candle here is the positive move on the the tax yesterday As you can see in today's session We give a small small bit of the ground back But the upper trend that has been in place since mid-march is very much still in place as you can see here the the high yesterday didn't quite get a high as the Just didn't quite get as high as the may high, but we're not too far away from it If you look at the upper trend here It's been a classic case of higher highs and higher lows You could be looking at taking out the may high and creating a new higher high If you take a look at the maxi indicator maxi Instagram You can see that momentum was in a negative negative territory or so much He swung at the positive territory So push higher and in the price has been confirmed by the increase in positive momentum So the at the moment of the momentum is with the fires if you do manage to take out the 13,200 region the next area to keep an eye out for to the upside could be 13,400 Notice how we did have a bit of consolidation in that area at the beginning of the year And if we go beyond that we could be looking towards retesting the all-time high of 13,600 Moves at the downside may find some support. We could find some support coming to play in around 12,900 notice how it managed to act as a resistance on a couple of occasions in the last week or two And south of that you may find some support to play at this red line here The two-day moving average which comes into play at 12,772 Also, you can see a bit of a crossing over of some of the moving averages the yellow line here Wanted a moving average coming to play at 12,589 and also the blue line here the the 50 moving average coming to play At 12,740 notice how all this this area entire here We have seen the moving averages act as both support and resistance So these areas here could possibly Act as a support in there in the near term So we see moving the downside if you take out the the late may alone over of our 12,554 Then that's what we could be looking at reach at heading back down towards 12,311 11 not seen since the middle of the middle of April and if you go south of that We could be looking heading down towards 12,000. Well, that's all for me this week Thank you very much