DavidBelleFX

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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