Technical Forecast for Dax

Dax Sep13 did reach 8200/15 for a possible selling opportunity as we start to look overbought short term. We topped exactly here in fact but could retest this area today for a second chance. We are looking for a top to the 3 week correction now & if we do see this we have the makings of a bearish head & shoulders topping pattern in the longer term. However shorts need stops above 8240 as a break higher could target 8268 then 8286.

 

Below 8160 is more negative & should see a test of support at 8130/25. However if we continue lower look for the next support at 8081/76 & a low for the day expected here.