Wednesday, December 9, 2015

DAX: A Huge Head and Shoulders pattern is already forming

We believe that 2016 will be a Bear Year for equities in general(2016: The Year of the Bear (II)).Specifically for DAX we believe that it will move down towards 9000(H&S neckline) then move towards 10.400(Right Shoulder) and finally move towards around 6800 on 4Q2016. We predict that this correction will move DAX price aprox 45% lower from March-April 2015 Highs.