DAX Slowed Down As ExpectedOct 20, 2023

DAX Slowed Down As Expected from technical point of view and from Elliott wave perspective.

This summer, we’ve been tracking a bearish pattern on DAX. In fact, we’ve been discussing the potential reversal in prices due to an ending diagonal pattern. We know that when patterns are completed, reversals can be sharp and fast, unfolding in at least three waves as illustrated in the daily chart from August 2023. 

DAX Slowed Down As Expected DAX Daily Chart From August 03
DAX Daily Chart From August 03

Now, looking at the current updated price action, we can see a three-wave drop already in progress, with prices currently in the late stages of wave C. This could find strong support around 14,637. Despite ongoing geopolitical issues and higher interest rates, there may be a relief rally in the final two months of the year.

DAX Slowed Down As Expected DAX Daily Chart From October 20
DAX Daily Chart From October 20

You can also join us in live webinar on Monday, Oct 23, 2023, @15.00 CET.

Become a premium member

Get daily Elliott Wave updates for some major Digital currencies, FIAT currency markets, major stock indexes, gold, silver, crude etc. or apply for unlimited access to the Elliot Wave educational videos.

Register here (Limited-Special 2 for 1 Offer available)

Ripple Is Waiting For The ALTcoin Season. Check our blog HERE.


Any reviews, news, analysis, prices or other information contained on our website is provided as general market commentary and delivered electronically through a distribution channel to larger number of clients, therefore does not constitute investment advice or investment research. We are not trading advisors. Most of our work is for educational purposes only, with information based on Elliott Wave theory in real time. Trading forex, futures, options, stocks, cryptocurrenices or any another trading market carries a high level of risk, and may not be suitable for all investors.

The possibility exists that you could lose some or all of your initial investment; therefore you should not invest money that you cannot afford to lose. Our website and the information that we provide should not be relied upon as a substitute for extensive independent research before making your investment decisions. In no event will we be liable for any loss or damage on your account in connection with, the use of our products. For any real cash investments you have to contact your financial advisor.

Any information or material contained on our website is owned by Val Global d.o.o.. Reproduction is prohibited without Val Global d.o.o. prior license in writing.

By continuing to use the site, you agree to the use of cookies. Learn more.

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.