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Elliott Wave Analysis For DAX: Five-Wave Cycle From March May Suggests A Slow Down For Bullish Trend

Elliott Wave Forecast
By Elliott Wave Forecast

DAX found a support after a three wave drop back in wave 4) at 14400 area from where market turned up for wave 5) that can be now approaching some resistance at 14900-15k psychological level. Keep in ind that while recovery from 13642 is now in five waves, therefore, be aware of a potential slow down by the end of the week. Divergence on the RSI is not that strong, but it may indicate that bulls can be loosing strength.

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