Potential reversal at 11224 per background pattern pending completion at its 5-prime position (i..e: along the 2-4 Line transposed and originating off of Point-3 of the pattern (Blue).
Overlay of predictive/forecasting model defines 11224 as a significant reversal potential level. If level holds and sends price back into a declining trend, consider 10593 as a conservative conditional level, whereas 10094 as an opening to the 9745 target.
INVALIDATION OF BEARS:
An prepares to complete its internal impulse count at both lesser degree (small black font) and higher-degree (large grey font). If and once price completes Point-5 of both impulses, a top-structure would define a level of invalidation if price continued to rally passed it.
Looking into this coming weak, the predictive/forecasting model calls for a top-reversal at 11224. A decline to the target at 9745 would likely act as a solid floor compared to the two structural levels at 10593 and 10094 - In essence, this week could possible see price tethered between 11224 and 9745 given the structural conditions defined above.
Predictive Analysis & Forecasting
Denver, Colorado - USA
Price hit target refined on 16 MAY 2015, over 2 years ago:
Expecting significant resistance, probable retracement (not reversal), as higher L/T targets loom.
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Thanks for your previous charts.
$GER30 broke > 12222; Price stomped at multi-year channel upper boundary; 12564 intact:
@tradingview $GER30 $EUR
$GER30 nears 12222 top; Break would open to 12564 target; Expecting consolidation:
@tradingview $DAX #DAX #GER30
The targets at the H4 level did not hold. In this "Model" algorithm, this occurs with higher-time frame level of of activity (i.e.: Stronger force of interference, in this case larger actors such as institutions) control price in a way that make smaller timeframe analyses unreliable - At this point, I would recommended to keep an eye on the weekly timeframe, where significant technical events are plying out, such as the nearing of the upper border of a multi-year channel.
A higher=frame calibration also defined a new level target level - See chart: