DAX Wave Analysis 11 December, 2020

• DAX falling inside impulse wave 3

• Likely to reach 12900.00

DAX recently reversed down from the major resistance level 13500.00 (which has been reversing the price from September) – standing close to the upper daily Bollinger Band.

The downward reversal from the resistance level 13500.00 started the active short-term impulse wave 3 – which belongs to wave (3) from September. DAX is expected to fall further toward the next support level 12900.00 (low of the previous corrective (b)) – followed by the support level 12500.00.