Bullish Reversal On German DAX - Elliott wave Analysis

14 בינו׳ 2019

German dax unfolded an EW ending diagonal within a bigger wave, which seems to have found a low at the 10280 level, from where a nice rally is now developing. This rally can be labelled as wave 1, first wave of a bigger upcoming cycle that is expected to unravel five minor legs. At the moment we see a temporary pullback unfolding as part of wave 1, which can face support and a recovery near the 10782 level.