Here is we update our long-term view on DAX index and EU equities in general.
It would be better to place weekly charts as well, but you're experienced guys, you'll get it ;)
So, market last week has completed our minor weekly H&S pattern (you could see right at top of large monthly one) and hit XOP at 10200 area. This is also monthly oversold level and major 5/8 Fib support.
Taking in consideration previous pullback from monthly oversold and H&S pattern that now is forming on daily chart - we suggest 3/8 upside pullback somewhere to 11800 area.
After that downside action should continue and lead us right to the neckline of large H&S pattern, completion of the Head.
Retracment up should be over somewhere in March...
It would be better to place weekly charts as well, but you're experienced guys, you'll get it ;)
So, market last week has completed our minor weekly H&S pattern (you could see right at top of large monthly one) and hit XOP at 10200 area. This is also monthly oversold level and major 5/8 Fib support.
Taking in consideration previous pullback from monthly oversold and H&S pattern that now is forming on daily chart - we suggest 3/8 upside pullback somewhere to 11800 area.
After that downside action should continue and lead us right to the neckline of large H&S pattern, completion of the Head.
Retracment up should be over somewhere in March...
ForexPeaceArmy BTC analytics :
www.forexpeacearmy.com/r/author/11/sive-morten-blog
FX, GOLD:
www.forexpeacearmy.com/community/forums/sive-morten-currencies-and-gold-video-analysis.122/
www.forexpeacearmy.com/r/author/11/sive-morten-blog
FX, GOLD:
www.forexpeacearmy.com/community/forums/sive-morten-currencies-and-gold-video-analysis.122/