Elliott Wave view on Dax looking for pullback to find buyers [Video]

Elliott Wave Forecast Team ElliottWave-Forecast.com

Short Term Elliott Wave View in DAX suggests that rally from 11.19.2024 low is in progress as a 5 waves nesting impulse. Up from 11.19.2024 low, wave 1 ended at 20522.82 and wave 2 dips ended at 19649.87. The Index nested higher in wave 3. Up from wave 2, wave i ended at 20024.79 and wave ii ended at 19833.82. Wave iii higher ended at 20391.17 and wave iv ended at 20255.85. Wave v higher ended at 20480.49 which completed wave (i).

Dax 60 minutes Elliott Wave chart

Pullback in wave (ii) ended at 20025.28. Index has resumed higher in wave (iii). Up from wave (ii), wave i ended at 20362.59 and wave ii ended at 20234.26. Wave iii higher ended at 21330.87 and wave iv ended at 21212.25. Wave v higher ended at 21491.51 which completed wave (iii). Pullback in wave (iv) ended at 21081.61. Expect wave (v) to end soon which should complete wave ((i)) in higher degree. Afterwards, wave ((ii)) pullback should correct cycle from 12.20.2024 low before the rally resumes. Near term, as far as pivot at 19648.57 low stays intact, expect dips to find buyers in 3, 7, 11 swing for more upside.

Dax Elliott Wave [Video]

Author

Elliott Wave Forecast Team

ElliottWave-Forecast.com

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