DAX Is Eyeing 18K Area

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DAX has seen some deep pullback in 2023, but it was A-B-C drop into the important 14400-14600 area from where we can see nice and clean impulsive recovery from that support area and back to new highs, so bullish trend is here, and it's very strong one; a move that can resume even higher. The short-term, 4h time frame shows that market is in a fifth wave up from 16346 low, but it seems there is room for more gains within a projected five-wave bullish cycle of the lower degree. Currently we are tracking wave (3) with room up to 17800 - 17900 area, just be aware of wave (4) pullback before a bullish continuation for wave (5) of 5 towards 18k.

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