The brown H&S pattern with head at 12400 and neck line at 11750-ish, targets 11K. Price teased lower in May but bounced on happy central banker talk so the DAX may be coming back down for unfinished business at 11K. The indicators are a mixed bag so a recovery bounce is on the table. The RSI is not oversold so price may want to play around in that 10.7K-11.0K congestion zone in the weeks and months ahead. The purple lines show another H&S-like pattern with head at 12400 and neckline at 11250 which would target 10.1K and the neck line is currently ruptured. The 200-day MA is sloping higher which is bullish.
The ongoing ECB QE program into September 2016 is also bullish for European stocks. The odd thing about Europe's QE which Keystone pointed out months ago, is that the European stock indexes were already at or near record highs when QE started. This is different than in the States and in Japan where their respective indexes were beaten down and had plenty of room to run on the Fed and BOJ QE easy money pumps. The ADX shows that the strong uptrend in February and March ended in April. The downward price action is not yet a strong downtrend which makes the DAX bulls happy but if the ADX rises into the pink box in the right margin the downside will become far more substantive. The DAX may stagger sideways from here. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here. Consult your financial advisor before making any investment decision.