DAX is currently in a ABC correction. After a 5-Wave Impuls (Wave 1) with a "Ending Diagonal" Wave 5 we are now breaking out of the wedge and heading into a correction.
Wave 2 in a Impuls is frequently 50%-61.8% of Wave 1.
As you can see on the chart, the 50%-61.8% area is a major resistance area which will most likey be a reversal-point after this...
Gold Long opportunity:
Gold is currently in a ABC Correction. DAX formed a Triangle (Wave B) and is now in Wave C until prior Resistance USD 1760-1780.
From the Resistance gold will likely start a new 5-wave impuls and reach highs at USD 2'075 or beyond.
Target: 2'075
