Oh Oh, after building a Double Top @ 9.000 a consolidation started. This consolidation caused a trendbreak - the momentum turned bearish. Now i see a bearish H&S. If the index would trade below the neckline @ ~ 7.900, a further drop should be expected. Only Prices above the potential right shoulder will brughten the Chart. Longs have a really nice Chance-risk-Ratio at the actual Level - as always wehenn we are trading near a Support Level :-) Best Regards Mary
Former view:
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Counter (DB)Move reached the min. correction level fibo 38,2
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Trading above the right shoulder would destroy the bearish pattern - here i would exspect a new upwave like illustrated