DAX continues to make a new low and this week broke below 11/20 low (11009) suggesting that the move lower remains in progress. Near term Elliott Wave outlook calls for the decline to 11009.25 on 11/20 as blue wave (3). From there, rally to 11566.97 ended blue wave (4) as a zigzag Elliott Wave structure. Red wave A of (4) ended at 11403.72, red wave B of (4) ended at 11208.60 and red wave C of (4) ended at 11566.97.
Decline from there is unfolding as an impulse Elliott Wave structure and a marginal low still can happen before ending the 5 waves down. This move lower also ended blue wave (5) and black wave ((3)) of a larger degree. Afterwards, expect black wave ((4)) rally in 3, 7, or 11 swing before the decline resumes again. We don’t like buying the proposed rally as the right side still remains lower.
Decline from there is unfolding as an impulse Elliott Wave structure and a marginal low still can happen before ending the 5 waves down. This move lower also ended blue wave (5) and black wave ((3)) of a larger degree. Afterwards, expect black wave ((4)) rally in 3, 7, or 11 swing before the decline resumes again. We don’t like buying the proposed rally as the right side still remains lower.
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14 days trial --> elliottwave-forecast.com/plan-trial/ and get Accurate & timely Elliott Wave Forecasts of 78 instruments. Webinars, Chat Room, Stocks/Forex/Indices Signals & more.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.