Technical analysis

DAX Wave Analysis – 11 June, 2021

• DAX reversed from key support level 15500.00

• Likely to rise to resistance level 15750.00

DAX index recently reversed up from the key support level 15500.00 (former strong resistance from April – which has been reversing the price from the end of May).

The upward reversal from the support level 15500.00 stopped the previous short-term corrective wave (ii) from the start of June.

Given the strong daily uptrend – DAX index can then be expected to rise further toward the next resistance level 15750.00.

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