The German DAX is coming into key resistance.

The DAX is in an ascending wedge, but more importantly is testing the neckline of the longer term head and shoulder’s pattern. This resistance is at the 11,850 level and today we may have had a false breakout to highs. A move back below the 11,600 would be a bearish event for the broad index.

DAX Ascending Wedge

Blake Morrow