DAX Index: ⬆️ Buy
– DAX reversed from pivotal support level 25875.00
– Likely to rise to resistance level 26500.00
DAX index recently reversed up from the support zone between the pivotal support level 25875.00 (former resistance from the start of July), 20-day moving average and the 38.2% Fibonacci correction of the upward impulse from June.
The upward reversal from this support zone started the short-term impulse wave 5, that belongs to the long-term impulse wave (3) from March.
Given the clear daily uptrend, DAX index can be expected to rise further to the next round resistance level 26500.00, which reversed the price earlier this month.
, 20-day moving average and the 38.2% Fibonacci correction of the upward impulse from June.){kind=link}