The German Market index may have signaled a significant highpoint with a false break out to the upside this week. However I am still expecting a deeper pullback at the moment before we could get confirmation that the momentum to the downside will resume. Area of interest is the zone between 50-76.4% pullback. Should we go over 76.4% I am expecting the downside momentum to be resolved and the index to be range bound until the end of year.
