DAX Is Breaking Bearish Triangle
Sep 23, 2022


DAX is breaking bearish triangle pattern and from Elliott wave perspective there is room for more weakness.

Stocks are still down and we see German DAX trapped in a higher degree wave (B) triangle consolidation which can be already completed or still in progress, so be aware of a continuation lower within wave (C) soon.

DAX Is Breaking Bearish Triangle Daily Chart
DAX Daily Chart

From technical point of view, wave (C) can extend its decline even down to 11k, maybe even 10k area. So, while DAX is breaking bearish triangle, watch out for more weakness, especially if we see today’s weekly close at the lows.

Check our latest video analysis sponsored by Orbex. CLICK HERE

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.