DAX: more gains?

December 16, 2016 09:19 AM
Elliott Wave Analysis: German DAX

Stocks remains in bullish mode with E-mini S&P500 trapped in a short-term correction, while DAX is already in fifth wave. However, there is room for more gains in the very near-term, up to 11420/11450 area before we may see a turn, but possibly only in three waves.

German DAX, 1-hour

 

 

About the Author

Gregor Horvat, based in Slovenia, has been in the forex markets since 2003. He is a technical analyst and individual trader who has worked for Capital Forex Group and TheLFB.com. He also is founder of forex services on www.ew-forecast.com. EW-Forecast.com provides technical analysis of the financial markets, highlighting behavioral patterns based on the Elliott Wave Principle (EWP). Website: http://www.ew-forecast.com/