The DAX index
values oscillate within a descending triangle
and a downtrend channel
. Furthermore the Ichimoku cloud
and the MA 20 or even 60 are anticipated to provide resistance to any upward movement, including of course the upper triangle line. The short term corrective wave pattern is of the type W-X-Y-X-Z, of which the final Z wave is expected to reach the target of approximately 10,500.