DAX Will Open Elliott Wave Bullish Sequence Soon -

DAX Will Open Elliott Wave Bullish Sequence Soon

Nov 30, 2023Jeremy ParkinsonFinance, No picture0

Image Source: UnsplashDAX cycle from 9.29.2022 low is in progress as a 5 waves impulse Elliott Wave structure. Up from 9.29.2022 low, wave (1) ended at 16528.97, and dips in wave (2) ended at 14630.21. The Index extends higher again in wave (3). It still needs to break above wave (1) at 16528.97 to validate this view and opens up a bullish sequence.The 1-hour chart below shows the wave (2) pullback at 14630 and the subsequent rally higher. Up from wave (2), wave 1 ended at 14933.69 and dips in wave 2 ended at 14655.08. The Index is then nesting to the upside in wave 3. Up from wave 2, wave ((i)) ended at 15364.49 and pullback in wave ((ii)) ended at 15171.58. Index then extended higher in wave ((iii)) towards 16041.17 and wave ((iv)) pullback ended at 15915.4. Expect the Index to extend higher in wave ((v)) to complete wave 3. It then should pullback in wave 4 and extends higher again afterwards in wave 5. Near term, as far as pivot at 15167.95 low stays intact, expect the Index to extend higher. Once wave 5 is done, it should complete wave (3) in higher degree.DAX 1 Hour Elliott Wave Chart DAX Elliott Wave VideoVideo Length: 00:09:34More By This Author:USDJPY Shows Incomplete Elliott Wave Bearish SequenceGold Miners ETF Should Continue To Extend HigherLithium ETF Should Be Ready For A Rally