DAX CMP 23447
Elliott- The current fall is the C wave and it is in its 3rd wave of C. We know the 3rd wave is the sharpest of all. Hence the correction is still not over.
Consolidation- the Index will breakdown below 23100. It bounced back after making the zone as the low for the week.
Composite- the divergence on the composite with the Index being under the two averages is very very negative.
Conclusion- Very sorry to break this news but the fall isn't over yet. Next week we could still see a much sharper sell off. As stated before we follow this Index for intermarket relationship and that DAX leads our mkts.
Elliott- The current fall is the C wave and it is in its 3rd wave of C. We know the 3rd wave is the sharpest of all. Hence the correction is still not over.
Consolidation- the Index will breakdown below 23100. It bounced back after making the zone as the low for the week.
Composite- the divergence on the composite with the Index being under the two averages is very very negative.
Conclusion- Very sorry to break this news but the fall isn't over yet. Next week we could still see a much sharper sell off. As stated before we follow this Index for intermarket relationship and that DAX leads our mkts.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.