Technical analysis

DAX Wave Analysis – 23 July, 2021

• DAX reversed from support zone
• Likely to rise to resistance level 15815,00

DAX recently reversed up from the support zone lying between the support level 15070,00 (which has been reversing the price from the middle of April), lower daily Bollinger Band and the 38.2% Fibonacci correction of the upward impulse from March.

The upward reversal from this support zone stopped the previous minor ABC correction (ii) from the start of June.

DAX can be expected to rise toward the next resistance level 15815,00 (previous monthly high from June).

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