Dax Elliott Wave Technical Analysis: Fifth Wave Targeting 19500-20000
Friday, 13 September 2024, 01:36
Understanding Dax's Elliott Wave Position
The Dax index is currently trading in its fifth wave, as per Elliott Wave analysis, indicating a likelihood for bullish movement towards the 19500 to 20000 range. The potential for this upswing enhances as the index approaches or exceeds the 19,000 mark. Traders are advised to monitor this level closely.
Market Implications
If the Dax breaks back above the 19k area, it may confirm a bullish sentiment. However, there remains a significant risk should it weaken further.
Key Points to Consider
- Current Wave:** Fifth wave suggests bullish potential.
- Targets range from 19500 to 20000.
- Key resistance level at 19,000.
- Potential risks increase with further weakness.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.