Since forming the low on September 2022 at 11862.84, DAX exhibits an incomplete greater excessive (bullish) sequence. This favors additional upside towards 12.20.2022 low at 13791.52. Cycle from 12.20.2022 low ended as an impulsive Elliott Wave construction with wave 1 at 15660.63, because the half-hour chart under exhibits. Pullback in wave 2 is at the moment in progress to appropriate cycle from 12.20.2022 low. Structure of the pullback takes the type of a double three Elliott Wave construction. Down from wave 1, wave (a) ended at 15410.82, wave (b) ended at 15475.05, and wave (c) decrease ended at 15246.39 which accomplished wave ((w)).
DAX 30 Minutes hour Elliott Wave chart
Rally in wave ((x)) ended at 15634.04 with subdivision as a zigzag Elliott Wave construction. Up from wave ((w)), wave (a) ended at 15526.28, pullback in wave (b) ended at 15366.37, and wave (c) greater ended at 15634.04 which accomplished wave ((x)) in greater diploma. Wave ((y)) decrease is now in progress with inner subdivision as one other double three in lesser diploma. Down from wave ((x)), wave (w) ended at 15300.42 and rally in wave (x) ended at 15532.44. Near time period, so far as Index stays under 15660.63, anticipate the Index to increase decrease to succeed in 14964.25 – 15219.25. This is the help zone for the Index, which is the 100% – 161.8% Fibonacci extension of wave ((w)). From this space, DAX can prolong greater or rally in 3 waves not less than.
