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Elliott Forecast

Eric Morera

Elliott Wave View: DAX Looking to Start a New Bullish Cycle

June 9, 2022 By

The 3/7/2022 low of 12438.85 in $DAX completed correction to the cycle from March 2020 low (Covid-19 low). From 3/7/2022 low, DAX has turned higher in a . Up from 3/7, wave (1) ended at 14925.25 and pullback in wave (2) ended at 13387.74 as the 1 hour chart below shows. Internal of wave (2) unfolded as a zigzag where wave A ended at 13566.2, wave B ended at 14315.24, and wave C ended at 13386.32.

The Index has turned higher in wave (3) with the internal as another 5 waves in lesser degree. Up from wave (2) low at 13387.74, wave ((i)) ended at 14226.47 and dips in wave ((ii)) ended at 13683.59. Index then extends higher in wave ((iii)) towards 14709.38. Expect wave ((iv)) pullback to end soon and Index to make 1 more push higher in wave ((v)) to end wave 1. Afterwards, it should pullback in wave 2 to correct cycle from 5/9/2022 low before the rally resumes. Near term, as far as 5/9/2022 pivot low at 13387.74 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/elliott-wave-view-dax-looking-start-new-bullish-cycle/

#elliottwave #trading #DAX

09/06/2022 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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