DAX has turned strongly to the upside from 10173 at the start of the month, when index might completed a double zigzag down in wave 4) as shown on the 4h chart. Notice that move up is very sharp; wave 1 to 10638 followed by retracement down to 61.8% as an EW flat for wave 2. After that, we have seen another nice sharp bounce which may put more bullish price action in play for 10778/10800, where daily close above that price region can open a door for 11000 psychological level.
German DAX, 4H
Comments
Log in or sign up to join the conversation.