Technical analysis

DAX Wave Analysis – 3 October, 2019

DAX Wave Analysis – 3 October, 2019
  • DAX falling inside impulse wave C
  • Likely to fall to 11800.00

DAX continues to fall inside the sharp impulse wave C, which started recently from the resistance area lying between the resistance level 12465.00 (top of the previous waves (1) and (b)) and the upper daily Bollinger Band.

The active impulse wave C belongs to the medium-term ABC correction (2) from September.

DAX is expected to fall further and retest the next support level 11800.00 (target price for the completion of the active impulse wave (i)).

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