Thursday, 13 September 2012

DAX turning lower at three degrees of trend?

Starting with the small stuff, the DAX has broken lower through the trend line drawn from the September low, as shown on the hourly chart. From little things, big things grow. Sometimes.


The daily chart shows the DAX testing and potentially turning lower from the top line of a bearish megaphone pattern.


The weekly chart shows the DAX testing and potentially turning lower from the trend line drawn from the 2007 and 2011 highs.