Friday, June 24, 2016

Is BREXIT the SHTF moment for German equities(DAX)?Not quite yet...

Has Brexit just opened the pandora's box for German stocks(DAX)?Not quite yet.
Back in December 2015 we nailed the pathway of DAX for the following months(DAX: A Huge Head and Shoulders pattern is already forming).

Currently DAX is in a well defined downtrend since March 2015.However it is still above EMA200 and in a very long intact (so far) uptrend since 2003!

We estimate that DAX will soon break below the EMA200 ,initially towards  7700.
Let the dust settle down and be patient!