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DAX bears Head and Shoulders above bulls

Discussion in 'Technical Analysis' started by FXStreet_Team, Feb 2, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    In a quick follow-up to our DAX report published on Friday (see “ DAX: More weakness or rebound in February? ” for more), the German benchmark stock index is currently displaying a bearish technical pattern on its intraday charts, which points to further losses in the near term. As can be seen on the 1-hour chart, below, the DAX has formed a clear Head and Shoulders reversal pattern. It has already broken below a rising trend line, but as we went to press it was still above the neckline of the

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