Technical analysis

DAX Wave Analysis – 15 July, 2021

• DAX reversed from resistance area
• Likely to fall to support level 15345.00

DAX index recently reversed down from the resistance area lying between the strong resistance level 15760.00 (which reversed the index twice in June) and the upper daily Bollinger band.

The downward reversal from this resistance area stopped the previous multi-impulse upward sequence made out of the impulse waves (iii), 3 and (3).

DAX index can be expected to fall further toward the next support level 15345.00 (which stopped the previous corrections ii and (ii)).

DAX index
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