The German DAX has been trading south for the last year or so but it might have been only a temporary decline if we consider that structure is pointing up because of an overlapping decline from 12424 to 8690 low, labeled as an A-B-C correction. That said, traders should be aware of even higher prices ahead as DAX recently completed a three wave set-back in blue sub-wave 2 and later broke above the upper corrective channel line which could open the door for more gains in the weeks to come, ideally towards the 11714 zone.
German DAX, Daily
Comments
Log in or sign up to join the conversation.