Hey guys! So today I'm taking a look at the European market, more precisely the German stock market and this is not looking so good now. Since Germany is the economic power of Europe, we can rely on this index (DAX) to know what's up with the European stock market. After the Dow Jones index or the S&P 500 index, my favorite one to take a look at the western markets is this one and we can see on the chart that German stock market is in trouble right now. First, the price is way below it's 200 daily moving average (green line) which is a very bearish signal. Second, we can see a clear big Head & Shoulder who is almost completed. If we break this H&S downside, all the European stock market will see a lot of downside action and this could/will affect the American stock market which is struggling too with it's 200 daily moving average.
So... To be clear, the German stock market is really important to watch at the moment. The next few weeks could be decisive between a long bear market in Europe, USA and all over the world or just a casual correction.
Stay tuned for more updates guys,
Fred
So... To be clear, the German stock market is really important to watch at the moment. The next few weeks could be decisive between a long bear market in Europe, USA and all over the world or just a casual correction.
Stay tuned for more updates guys,
Fred
Trade active:
The DAX index just broke it's H&S pattern. The pattern is now completed and the price could drop all the way down to 10 400. I would not be surprise to see a false breakout and a bounce back tho. We'll wait and see !
Trade active:
We're midway target
Trade active:
We are very very near from the target !
Trade closed: target reached:
we finally hit the target ! However, really possible DAX will go lower... I will make a update soon.
