DAX Remains In Uptrend

ew-forecast Updated   
PEPPERSTONE:GER40   German 40 Index
DAX has seen some deep pullback in 2023, but it was A-B-C drop into the important 14400-14600 area. We can see nice and clean impulsive recovery from that support area and back to new highs, so bullish trend is back and it's very strong one; a move that can resume even higher after recent consolidation. Ideally that's wave 4 that can be now completed with current sharp and impulsive bounce, so be aware of a continuation higher for wave 5, especially if breaks 16800 bullish confirmation level.
DAX is nicely extending higher within 5th wave and there can be space for more gains towards 18k area or higher.

Elliott Wave Service
👉 www.wavetraders.com
👉 Newsletter Sign up: bit.ly/3FVPVzO

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.