There is wonder how high the DAX 30 (German index) could go. With fundamentals helping it (ECB 1.1 trillion QE and negative interest rates) is hard to get a high in this stellar market with new highs being in new territory almost every day. The only tool available I can see to guess a high is Fibonacci extension levels. The most powerful levels are 1.0, 1.618 and 2.0 (1.0 meaning 100% and so on). So, I drew a Fib extension from 16th Oct 2014 to the high on 5th Dec and the low on the 16th Dec 2014. As you can see in the chart, there was a high at 1.0 extension 10980 (on the 3rd of Feb) which took the index down to 0.786 level 10595. The next important level at 1.628 (the closest to current level) is 12060 and then 2.0 at 12730.

Therefore, there is a probability that if 12060 is reached we could see a pull back of at least 400 points, just looking at the history of the index.