Every week Tech Charts Global Equity Markets report features some of the well-defined, mature classical chart patterns under a lengthy watchlist and the chart pattern breakout signals that took place during that week. Global Equity Markets report covers single stocks from developed, emerging and frontier markets, ETF’s and global equity indices. The report starts with a review section that highlights the important chart developments on global equity benchmarks. This blog post features a possible head and shoulder top on Germany XETRA DAX Index.
Global Equity Markets report has been featuring Germany’s DAX Index with the possible H&S top for the past few months. The index has a well-defined horizontal support (neckline) at 11,920 levels. Completion of the H&S top will be very negative for the German and European equity markets. A daily close below 11,680 levels will confirm the breakdown with the possible chart pattern price target of 10,600 levels.
Data as of October 9, 2018 – 2:00 pm CET
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