• Forex Analyst

DAX Elliott Wave Charts

German Dax 1 Hour Chart

DAX 1 Hour Chart

Wednesday, 25 November 2020 at 08:44 GMT

S&P500 and DAX are still in the intraday recovery mode, but we can see them approaching important target/resistance areas. S&P500 can be finishing a corrective a-b-c recovery, while DAX wave 5, but seems like one more intraday leg up is still missing to complete a short-term five-wave cycle. That said, be aware of limited gains and watch out for a potential drop and sell-off soon.


German Dax 4 Hour Chart

Wednesday, 25 November 2020 at 07:42 GMT

No change.

German DAX is making a bounce for the last three weeks which is looking sharp so there is a chance that low of a deep correction has been put in place. As such, we expect more more upside within a new five-wave bullish cycle, but ideally after a pullback. Support for upcoming higher degree correction can be around 12600 - 12300.


German DAX Daily chart

Nov 22 2020

DAX is making a bounce after recent A-B-C drop to 11300-11600 support area. We see an impulsive activity above the trendline, which calls for more upside. That said, we still need to be aware of temporary pullbacks along the way