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Elliott Forecast

Daud Bhatti

DAX Will Open Elliott Wave Bullish Sequence Soon

December 1, 2023 By

$DAX cycle from 9.29.2022 low is in progress as a . 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 Video

Source:-forecast.com/news/dax-will-open-elliott-wave-bullish-sequence-soon/

01/12/2023 1 EN

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Elliott Forecast

Elliott Forecast

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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