Possible Head & Shoulders Formation - DAX
RECAP
Dax could be forming a huge head & shoulders but we will not have a longer term sell signal until
we break the neckline at 11600.
We topped just 7 ticks above the main challenge for bulls today at 12410/420.
Forecast
Dax held the main challenge for bulls today at 12410/420 almost perfectly & collapsed to what is now very minor support at the 100 week moving average at 12115. However a break below the small gap at 12082 targets good support at the 500 day moving average at 12055/045.
First resistance at 12350/360 then 12410/420 but above here this time targets 12510/520. Try shorts with stops above 12570.
Dax could be forming a huge head & shoulders but we will not have a longer term sell signal until
we break the neckline at 11600.
We topped just 7 ticks above the main challenge for bulls today at 12410/420.
Forecast
Dax held the main challenge for bulls today at 12410/420 almost perfectly & collapsed to what is now very minor support at the 100 week moving average at 12115. However a break below the small gap at 12082 targets good support at the 500 day moving average at 12055/045.
First resistance at 12350/360 then 12410/420 but above here this time targets 12510/520. Try shorts with stops above 12570.
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