DAX Is Looking For A Bigger Recovery After A Pullback from technical point of view and from Elliott wave perspective.
DAX has seen some deep pullback in the last few months, but it can be an A-B-C drop into the important 14400-14600 area. Notice that so far, we can also count five waves down within black wave C/III on the 4h time frame, where the bottom can be forming as the price recovers back above 15k. So far, that’s only one leg from the low, so even if recovery would be corrective we still think there is more upside coming after pullbacks. Suppport is at 14900-15k support.
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