Short-term Elliott wave view in DAX suggests the rally from October 6, 2021 low is in progress as a 5 waves impulse. Up from there, wave 1 ended at 15267.92 and pullback in wave 2 ended at 15012.07. The Index then extended higher in wave 3 towards 15781 with internal subdivision as 5 waves in lesser degree. Up from wave 2, wave ((i)) ended at 15174.29 and pullback in wave ((ii)) ended at 15019.61. Index then extends higher in wave ((iii)) towards 15614.76, dips in wave ((iv)) ended at 15531.95, and final leg higher wave ((v)) of 3 ended at 15781.
Wave 4 pullback ended at 15495.51 with internal as a double three. Down from wave 3, wave ((w)) ended at 15629.33, wave ((x)) ended at 15690.23, and wave ((y)) ended at 15493.68. Index has resumed higher in wave 5 with internal as another impulse. Up from wave 4, wave ((i)) ended at 15849.40 and dips in wave ((ii)) ended at 15760.35. Index could be doing a nest within wave ((iii)) and near term, expect wave (i) of ((iii)) to end soon and Index to pullback in wave (ii) of ((iii)) before turning higher again. Near term, as far as pivot at 15493.68 low stays intact, expect dips to find support in 3, 7, or 11 swing for further upside.
Wave 4 pullback ended at 15495.51 with internal as a double three. Down from wave 3, wave ((w)) ended at 15629.33, wave ((x)) ended at 15690.23, and wave ((y)) ended at 15493.68. Index has resumed higher in wave 5 with internal as another impulse. Up from wave 4, wave ((i)) ended at 15849.40 and dips in wave ((ii)) ended at 15760.35. Index could be doing a nest within wave ((iii)) and near term, expect wave (i) of ((iii)) to end soon and Index to pullback in wave (ii) of ((iii)) before turning higher again. Near term, as far as pivot at 15493.68 low stays intact, expect dips to find support in 3, 7, or 11 swing for further upside.
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