Due to the insecure overall political situation in Europe, plunging chinese stocks and industrial metals, the testing of the upper channel edge and a relatively oversold market
, we may see another breakdown at least to previous structure level of at least 10700.
Another support zone
at around 10600 marked with the thin green line may also indicate a potential reversal zone at around 10600 to 10700.
As always, Stop-Loss is set right about previous structure highs, giving us a nice Risk Reward Ratio of 2,9.
In long term view a decrease down to about the 10000 level is the maximum imaginable to me, because of huge resistance levels marked with the long green rectangle
. This would theoretically give us an RRR of 5,17
but is not easy to predict in this by politics driven stock markets