DAX index futures (EUREX:FDAX) in its 2-hour chart shows a potential inverted head and shoulders pattern. In case that the German index breaks above the neckline at 11,489 pts, it will activate a bullish target placed at 12,439 pts. The technical stop level is under the right shoulder at 11,483 pts. In another hand, we should consider that this chartist figure met the objective only 58% of times, and tends to fail 4% of times.
Taking into consideration the inverted H&S pattern statistics, we have two scenarios for FDAX:
Scenario 1: FDAX will break over 11,849 pts, and met the technical target.
Scenario 2: FDAX will fail the breakout and decline until 11,388.5 pts.
Now it’s your turn to vote: