DAX40 PERF INDEX - DAX30 completed its projection as per our tweet - 08/20/2015 (GMT)

The DAX30 is trading in a downward channel on a 4 hour time frame. This confirms that the trend is towards the downside and as long as we trade with in this range, the current trend will prevail. We also have another pattern formed within this pattern which is the symmetrical triangle pattern and yesterday we have tweeted (@NaeemAslam23) that the next target level for the DAX30 is 10600 which the price completed this morning. The projection is shown on the chart with the light pink line. The price has no pierced support level of 10640 and the next meaningful support level is mentioned below.
The bull and bear indicator also confirm that the bears are gaining their momentum while the bulls are losing their control. The RSI indicator is trading near the oversold zone which should be treated with some respect as such a level is considered as a buy opportunity which could pause the current trend or reverse the current trend.