DAX 30 Strong Bullish Momentum Confirms 3rd Wave
|The German DAX 30 index is testing the resistance trend line (red) and preparing for a bullish breakout. A push higher could indicate a bullish wave C (purple).
DAX 30
Daily
The DAX 30 made a bullish bounce at the support trend line (blue), which could indicate the end of the wave C (blue) of a wave B (purple). The current bullish impulsiveness makes it likely that price will be able to break above the resistance trend line (red). A bullish breakout is aiming for the Fibonacci targets of wave C vs A.
4 hour
The DAX 30 bullish rally seems to be taking place via a 3rd wave (green). Any pullback that might occur is likely to be a wave 4 (green) correction as long as price stays above the 50% Fibonacci retracement level.
The analysis has been done with the CAMMACD.MTF template.
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