DAX Breaks Out Of A Downward Channel.

2023年7月17日

Dax is in an impulsive uptrend since October 2022 and it can be trading in 5th wave, but there can be still room for more upside if the current drop from ATH will stay in three waves. For now we have seen some nice bounce, back above 15700 bull/bear level so it appears that bulls are still here, especially now when price also broke through the channel resistance line that can turn into a nice support this week.

So I am expecting further gains for the DAX whiel price is above wave (C) low at 15455.

GH