DAX showing trouble as Large Head & Shoulder appears on 4hr.

DAX Futures was down 0.65% on Wednesday after testing the high level of 19421 in the last trading session as the DAX tumbled by over 2% on Tuesday and tracking a general cautious mood. Traders are closely evaluating the potential impact of a second Donald Trump term on the global economy, as the president-elect unveils details of his political team. On the data front, the ZEW Indicator of Economic Sentiment for Germany unexpectedly sank, weighed down by Donald Trump’s victory and the collapse of the German government coalition. The earnings season continues with shares of Bayer sinking about 15% after the company cut its earnings outlook. Brenntag (-8%) was also sharply lower.

Technically, DAX has given breakdown of an Inverted Head & Shoulders on 4hr time frame & also trading below 8, 20, 55 SMA on Daily chart which shows bearishness in counter. Supports seen at 19051 followed by 18500 & 18200 on the downside. Pattern neagtion levels stands at 19575.