Macro:
Economic momentum peaking globally, China (Germany main trading Partner) decelerating along with other Emerging Markets.
Central banks around the world and the ECB remains in normalization process (tightening conditions)
Political risks on the rise in Europe with Brexit and Italy new government.
Sentiment:
I think the market has not priced in the rise of global recession risks and remains too complacent
Technical:
Dax has completed a Head & Shoulder pattern breaking the neck line near 12'000.
We can expect a return to 10'100 as long as price remains below the neckline
Economic momentum peaking globally, China (Germany main trading Partner) decelerating along with other Emerging Markets.
Central banks around the world and the ECB remains in normalization process (tightening conditions)
Political risks on the rise in Europe with Brexit and Italy new government.
Sentiment:
I think the market has not priced in the rise of global recession risks and remains too complacent
Technical:
Dax has completed a Head & Shoulder pattern breaking the neck line near 12'000.
We can expect a return to 10'100 as long as price remains below the neckline