DAX Head and Shoulder Reversal Progresses..!!

16 sie 2018

The daily chart view for DAX, could be still suggesting that the drop could accelerate, prices break below 12000/11900 mark, which is the Neck Line as displayed. Further to our discussion yesterday, DAX has plunged around 200 points and could continue wave (3) or C lower until 10200 levels, as being highlighted as 1.618 Fibonacci extension. Also note that resistance is still intact at 12800 and subsequently at 13200 levels and till the time prices stay below, we could expect DAX to print lower levels. If the potential Head and Shoulder reversal pattern should hold true, downside could accelerate once prices break below 12000 levels. Please also note that this could be wave (3) unfolding and the drop could be rapid.


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