Looking at the weekly chart the DAX, it paints a quite bearish picture. This years price action seems to be forming a h&s top with ice line around 11750.
This will be a critical juncture for the DAX as price will also meet the upscoping trend line that has been in play for a number of years.
If this price does not hold, I would expect a move sub 10k - to the yellow box.
A valid EWT count suggests that the H&S top currently forming is completing wave 3 of the primary cycle, for this count to hold valid we do not want to see a break of w1 high.
This will be a critical juncture for the DAX as price will also meet the upscoping trend line that has been in play for a number of years.
If this price does not hold, I would expect a move sub 10k - to the yellow box.
A valid EWT count suggests that the H&S top currently forming is completing wave 3 of the primary cycle, for this count to hold valid we do not want to see a break of w1 high.