DAX-30 technical update on January 12, 2015

DAX trend remains up above 9.650. Price consolidation below the 10.000 mark is positive in my opinion. Many people may be opening short positions thinking that 10.000 or 10.100 is the top of this market, but I guess that a breakout above these levels is on the cards and may happen very soon. A reverse H&S formation would then set 11.500 as this market’s upside target.

DAX-30, December futures, daily chart, continuous:

DAX(Daily)20150112150518

Chart courtesy of investing.com. http://investing.com

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