Dax Wave Analysis 2 March, 2021

• Dax broke daily down channel

• Likely to reach resistance level 14200.00

Dax index continues to rise inside the minor impulse wave 3 which started earlier from the support level 13660.00 (which also formed the daily Hammer at the end of February).

The index earlier broke the daily short-term down channel from the start of February – which should add to the bullish pressure on Dax in the next trading sessions.

Given the prevailing uptrend – Dax is likely to rise further toward the next resistance level 14200.00 (top of the previous impulse wave 1).