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Joseph VanDerveer

Joseph VanDerveer

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DAX HS Break Leading?

Simple daily chart for the last year on the The German Stock Index "DAX" which comprises 30 German blue chip stocks.

Notice the price fib. retracement from early Dec. high to Mid. Feb. low was hit first at the 50%, then 61.8%, then follows a lower high, and lower low. This may lead to lower prices in the near future.

Next take a look at the left shoulder, head, and right shoulder of an apparent H&S with recent neckline break using blue annotations.

The 50dma is currently below the 200 although getting very close.

Last tool on the chart is down at the bottom, the macd indicator. The centerline looks like it may have a bearish crossover any day.

DAX Daily Chart

 

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