DAX: bullish to fill the gap

February 10, 2017 08:54 AM
Elliott Wave Analysis: German DAX

The German DAX is bullish for Wave c) which is up, as part of an expanded flat correction, which should rally towards 11807 area to fill the gap from the end of January. Usually, these gaps cause new swings, so we would not be surprised if the Index would turn bearish once the gap is filled.

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/