Dax index seems have reached head and shoulder pattern, target area is between horizontal red line, approx 10200/10300 point of index. If you look at MACD indicator point A and B marked in red are approximatively at the same level. A rebound may happen, we are at the same MACD position since February 16th, 2016 where dax reached a significant low. So, Price have reached a significant level where market moved between august an december 2016. You have to consider we are speaking of a weekly chart, with a slow evolution. A person could close short position with a good gain and wait for a rebound.
"A picture is worth a thousand words"
"A picture is worth a thousand words"