• 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.
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