The rally in DAX from 11/9/2016 is unfolding as a triple three where wave (W) ended at 10798, wave (X) ended at 10400, wave (Y) ended at 11487, and second wave (X) ended at 11403. With a break above wave (Y) at 11487, DAX is showing 9 swings up from 11/9/2016 low, which favors more upside. Up from 11403, wave ((w)) ended at 11649.5, and wave ((x)) pullback is in progress in 7 swing to correct cycle from 12/30 (11403) low before Index turns higher again. Potential target for wave ((x)) pullback is 11461.76 – 11497.78 area before Index turns higher. We don’t like selling the proposed pullback and expect buyers to come once wave ((x)) pullback is complete in 7 or 11 swing as far as pivot at 11403.8 stays intact.
At Elliottwave-Forecast, we offer 24 hour coverage of 52 instruments from Monday – Friday using Elliott Wave Theory as primary tools of analysis. We provide Elliott Wave chart in 4 different time frames, up to 4 times a day update in 1 hour chart, two live sessions by our expert analysts, 24 hour chat room moderated by our expert analysts, market overview, and much more! With our expert team at your side to provide you with all the timely and accurate analysis, you will never be left in the dark and you can concentrate more on the actual trading and making profits. Check out our 14 day Trial to sample everything we have to offer.Back