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DAX is rising strongly higher on a daily chart, which looks like an extended wave 5 of III with space for more gains towards the upper side of an EW channel up to 22k-23k area, as we see an unfinished lower degree five-wave impulse.

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DAX Daily Chart

In the 4-hour chart, we are tracking lower degree wave 3 of (3), but it can be in final stages of subwave “v” that can stop at 21800 – 22000 area and from where we should be aware of a new lower degree wave 4 correction that can revisit the support around 21000 level. DAX is bullish as long as the price is above 20500 invalidation area.

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DAX 4H Chart

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