DAX is forming a M pattern with big volatility coming due to potential BREXIT, more bad economic data coming out from central banks as well as from corporate the potential to downside movement is high.
Trade closed: target reached:
Pattern formed and target reached. Expect a bounce back to 10180 and then down to 9450.
With FOMC and BREXIT coming closer the DAX has been plunging towards strong support area of 9545-9300. Bad economic data releases have put even more downward pressure on the DAX.
Watch out for the DAX breaking 9300 level. This could be the start of bear market.