DAX Now In A Corrective Price Action. Support at 13500-13600
Dec 19, 2022


DAX turned aggressively higher a few months back, broke an important trendline on a daily chart, which more and more looks like an impulse in the 4-hour chart, so we are tracking a five-wave recovery that can send the price higher after wave four pullback which seems to be in play now. Notice that the price broke 14200 support so this can still be the only first leg of a higher degree wave 4 that can be headed to 13570, ideal support from an Elliott wave perspective.

Elliott wave DAX


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