German DAX is Storming Higher

Intermediate

Hello traders,

German DAX is turning bullish and it may see a lot more upside from here if we consider that recent sharp set-back to 11880 might have been sub-wave two. If that is the case, then sub-wave 3 of a bigger cycle can now take price even higher.

German DAX, Daily

DAX Daily Chart 2019-10-28

Now, on the 4h chart of German DAX we can see that price is trading higher, and in impulsive fashion and it appears it is already in a fifth wave rise that should be made by five smaller waves. As such, resistance and a turn down into a new correction should not be a surprise, but there is sill a possible fifth wave rise to 13000-13100 area.

German DAX, 4h

DAX 4h Chart 2019-10-28

Gregor Horvat

Elliot Wave Technical Analyst

Gregor Horvat is based in Slovenia and has been in the Forex market since 2003. He has been working for Capital Forex Group and TheLFB.com.

He is the owner of www.ew-forecast.com, which prov...continued

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