DAX CMP - 24914
Elliott- The current rally to the highs is part of correction. To me wave B is over and now the C wave has started. C waves are fast and furious. As of now the minimum correction is 22500 which the 61.8% of the swing.
RSI - The Index made new highs while the oscillator could not go past the bear zone is very very negative. It is also just under the MA cross which is again negative.
Composite- on the monthly chart on the right we have -ve divergence.
Conclusion - Since this Index is ahead of us these negative signs are a precursor to what will follow in our mkt. Caution is the call now.
Elliott- The current rally to the highs is part of correction. To me wave B is over and now the C wave has started. C waves are fast and furious. As of now the minimum correction is 22500 which the 61.8% of the swing.
RSI - The Index made new highs while the oscillator could not go past the bear zone is very very negative. It is also just under the MA cross which is again negative.
Composite- on the monthly chart on the right we have -ve divergence.
Conclusion - Since this Index is ahead of us these negative signs are a precursor to what will follow in our mkt. Caution is the call now.
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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.