Elliott Forecast - DAX Index Rallies after Ending 3 Waves Corrective Pullback | ResearchPool

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Elliott Forecast

Daud Bhatti

DAX Index Rallies after Ending 3 Waves Corrective Pullback

July 13, 2023 By

Short term Elliott Wave view in DAX suggests the Index ended wave (3) at 16427.42. Wave (4) pullback unfolded as a . Down from wave (3), wave ((i)) ended at 16069.1 and wave ((ii)) ended at 16184.30. Wave ((iii)) lower ended at 15733.12 and wave ((iv)) ended at 15874.90. Final leg wave ((v)) ended at 15713.70 which completed wave A.

Rally in wave B ended at 16209.29 with internal subdivision as a zigzag structure. Up from wave A, wave ((a)) ended at 15998.67, pullback in wave ((b)) ended at 15920.33 and final leg wave ((c)) ended at 16209.29 which completed wave B. The Index then extended lower in wave C towards 15453.08 which completed wave (4) in higher degree. The Index then turns higher in what looks to be impulsive structure. Up from wave (4), wave i ended at 15755.44 and dips in wave ii ended at 15659.10. Expect the Index to soon end the 5 waves rally from 7.7.2023 as wave (i), then it should pullback in wave (ii) to correct that cycle before it resumes rally. Near term, as far as pivot at 15453.08 low stays intact, expect dips to find support in 3, 7, or 11 swing for further upside.

DAX 60 Minutes Elliott Wave Chart

DAX Elliott Wave Video

Source:-forecast.com/news/dax-index-rallies-ending-3-waves-corrective-pullback/

#trading #elliottwave #DAX

13/07/2023 1 EN

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Elliottwave-Forecast.com (by EME PROCESSING AND CONSULTING LLC) was founded in 2005 by Eric Morera. Since inception our company has provided tailored Financial Market Services to thousands of clients. ElliottWave-Forecast has built a reputation on accurate technical analysis and a winning attitude. By successfully incorporating the Elliott Wave Theory with Market Correlation, Cycles, Proprietary Pivot System, we provide precise forecasts with up-to-date analysis for 52 instruments including FX majors, Gold, Silver, Copper, Oil, TNX and major Equity Indices. Our clients also have immediate access to our proprietary Actionable Trade Setups, Market Overview, 1 Hour, 4 Hour, Daily & Weekly Wave Counts. Weekend Webinar, Live Screen Sharing Sessions, Daily Technical Videos, Educational Resources, and 24 Hour chat room where they are provided live updates and given answers to their questions.

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Daud Bhatti

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