The DAX is in a correction pattern from the start of the year.
During October its Technical image aggravated due to the fact that it first broke its Support zone (the 2 lines in grey and in black) and then created a possible Bearish pattern, a H&S pattern, which placed the DAX into an alarming condition. The main zone of the H&S pattern which is now a Resistance for the German index, is the light green zone. The blue diagonal line is an important Support.
winstox.webnode.com/
At my site (link above) you can read all my analysis.
I would like first to see a move towards 10800 for some more fear and then the reaction but we may not have this possibility.
The reaction can take place at any time starting from next week.
Just a reaction and nothing more but it can give some nice short term profits.
During October its Technical image aggravated due to the fact that it first broke its Support zone (the 2 lines in grey and in black) and then created a possible Bearish pattern, a H&S pattern, which placed the DAX into an alarming condition. The main zone of the H&S pattern which is now a Resistance for the German index, is the light green zone. The blue diagonal line is an important Support.
winstox.webnode.com/
At my site (link above) you can read all my analysis.
I would like first to see a move towards 10800 for some more fear and then the reaction but we may not have this possibility.
The reaction can take place at any time starting from next week.
Just a reaction and nothing more but it can give some nice short term profits.
Needs confirmation.