DAX Wave Analysis 29 January 2025

- DAX broke the key resistance level 21500.00
- Likely to rise to resistance level 22000.00

DAX index recently broke the key resistance level 21500.00 – which stopped the previous minor impulse wave i earlier this month.

The price earlier reversed up from the upper trendline of the daily up channel from August (which is acting as the support after it was broken previously in December).

Given the powerful daily uptrend, DAX index can be expected to rise further to the next resistance level 22000.00 (which is the target price for the completion of the active impulse wave 5).