Elliott Wave Analysis: German DAX Remains In The Uptrend

Hello traders and investors!

Today we will talk about very nice and clean Elliott Wave pattern on German DAX, where we can see a clear impulse in progress.

We are tracking an impulsive five-wave cycle from 13300 lows nicely connected within channel range. And, after recent (A)-(B)-(C) corrective decline in wave 4, seems like DAX can be on the way even higher for wave 5 towards 15700 - 16000 area.

Today we have seen a perfect rebound from the channel support line, previous wave 1) swing high and 38,2% Fibonacci retracement, which clearly indicates for a bullish continuation back to highs.

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