Elliott Wave Forecast: DAX Looking for 3 Waves Rally

Down from wave (X), wave ((a)) ended at 12603.58. Wave ((b)) rally ended at 13564.83 and the 45 minutes chart below starts from here. Wave ((c)) lower ended at 11862.75 and this completed wave W of (Y).

Wave X of (Y) rally is now in progress as a zigzag Elliott Wave structure. Up from wave W, wave (i) ended at 12198.37 and wave (ii) ended at 11866.98. Index then extends higher in wave (iii) towards 12669.53 and wave (iv) ended at 12455.36.

Expect 1 more rally higher in wave (v) to end wave ((a)). Index should then pullback in wave ((b)) to correct cycle from 9.28.2022 low before the next leg higher in wave ((c)) to end wave X. Near term, as far as pivot at 11862.75 low stays intact, expect dips to find support in 3, 7, 11 swing for further upside.

DAX 45 Minutes Elliott Wave Chart

Elliott Wave Forecast: DAX Looking for 3 Waves Rally

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