DAX looks its gonna breakdown

Germany Stock Market Index DAX may be creating a Head and Shoulder pattern at the top. In order to break out and become bullish the Index has to strongly close above the Red line which it has been following for past months.

A weekly close below 10850 levels will confirm a bear market in DAX atleast for the near term.

Watch out for the contagion effect on our Indian markets.
Comment: H&S confirmed. Watch out for other Europe markets and stocks related to Europe.
Comment: 10350 and 9600 are near term supports
Comment: Bounced from above mentioned support