Dax Wave Analysis – 1 March, 2022

• Dax reversed from resistance zone
• Likely to fall to support level 3.000

Dax index recently reversed down from the resistance zone lying between the key resistance level 3220.0 (former strong support from last year) and the 38.2% Fibonacci correction of the earlier downward impulse from last month.

The downward reversal from this resistance zone stopped the earlier short-term correction (ii).

Given the strength of the aforementioned resistance zone – Dax index can be expected to fall further toward the next round support level 3.000 (which stopped the previous short-term impulse wave (i)).