A Shoulder/Head/Shoulder top has been activated in the UK FTSE 100 Index. The ongoing decline should reach at least the 5,556 area, but this decline could be much deeper, as we could easily have seen the end of wave [B].
The German DAX index also have formed a Shoulder/Head/Shoulder top, but it hasn't been activated yet, but a break below 6,140 would activate it for a decline to at least the 5,966 area. Again this could be the start of something much bigger, as wave [B] could be done.
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