DAX hits trend channel resistance
We believe that the DAX completed an Elliott Wave five rally from the October 14630 low to the mid-May 18892 high and then commenced a correction. The dip to the 17,024 low is viewed as part of a correction within an uptrend.
A sustained break above 18,580/00 would confirm the correction is complete and the uptrend has resumed, setting up a retest of the July 18779 high before the 18,892 all-time high.
Aware that while the DAX remains below resistance at 18,580/00, further range trading within the bullish trend channel is likely as part of an ongoing correction.
A sustained break above 18,580/00 would confirm the correction is complete and the uptrend has resumed, setting up a retest of the July 18779 high before the 18,892 all-time high.
Aware that while the DAX remains below resistance at 18,580/00, further range trading within the bullish trend channel is likely as part of an ongoing correction.
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Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.