German Dax looking bearish near-term - Elliott wave analysis

Gregor Horvat Wavetraders

Good morning traders, a quick update od dax.

Stocks are turning slightly lower for the last 24 hours, which may be start of a deeper pullback, even if just in three legs. On German DAX we see an impulsive development so a top might have already been found, meaning we should be aware of a more weakness after an a-b-c rally.

German DAX, 1h

Trade well,

The EW-Forecast team

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Author

Gregor Horvat

Wavetraders

Experience Grega is based in Slovenia and has been in the Forex market since 2003.

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