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HomeContributorsTechnical AnalysisGerman Dax Is Recovering, However Will 12170/12290 Resistance Hold?

German Dax Is Recovering, However Will 12170/12290 Resistance Hold?

Elliott Wave Financial Service
By Elliott Wave Financial Service

German DAX is currently recovering, however we see the stock market trading within a three-wave A)-B)-C) correction as part of a bigger corrective leg. Potential resistance/turn for sub-wave C) of B can be near the 12173/12291 area, where bears may take over. That said, in case bigger wave II is already completed at 11263 region, then current recovery from the lows is part of a bigger, bullish cycle.

German DAX, 4h

German Dax, daily

Elliott Wave Financial Service
Elliott Wave Financial Servicehttp://www.ew-forecast.com/
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