DAX Wave Analysis – 31 May, 2021
May 31, 2021 @ 18:12 +03:00
• DAX reversed from key resistance level 15535.00
• Likely to fall to support level 15347.00
DAX index recently reversed down from the key resistance level 15535.00 (which has been repeatedly reversing the index from the start of April) – intersecting with the upper daily Bollinger Band.
The downward reversal from the resistance level 15535.00 stopped the previous short-term impulse wave (iii).
DAX index can then be expected to fall further toward the next support level 15347.00 (low of the previous minor corrective wave (ii)).