DAX possible head and shoulders pattern.

EUREX:DY1!   DAX Index
Two points of confluence here. The first is that there is a flag pattern currently in play, with price coming to hit the upper trend line of the flag. Secondly, we have a head and shoulders pattern forming. However, watch for a break to the upside where we could extend to 12057. Also, current investor psychology seems to be wanting to veer away from equities. Although the DAX             hasn't been impacted too hugely compared to say, China and emerging market indices, it will be interesting to see how long this downward channel extends for.

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