InvestMate|DAX correction on the way🥨DAX correction on the way.
🥨As in my last post I predicted a rise in the DAX idx this time it was time for a correction.
🥨After a month-long rise of equal to 14 from the bottom, can we speak of an imminent correction?
🥨By all means.
🥨The Dax has only made one major correction in its journey to the top, amounting to 78.6% of the first downward wave. After which it started its 3rd wave rally
🥨I believe that in this case a correction is inevitable and will happen sooner or later.
🥨Will it be tomorrow morning at the opening of the German stock market?
🥨Perhaps.
🥨I don't want to imply here that we have already exhausted maximum strength but whether with or without a new peak I expect some kind of significant correction on this index.
🥨In order to determine possible levels to which the price could descend, I have used a fibo wave measurement. First from bottom to top then I measured the biggest correction in the whole upward impulse and measured one to one.
🥨It showed me an interesting cluster of levels at 0.382 and 1:1 which falls in the price range between 12800 and 12731 and if the price would start heading south with the return of the negative sentiment a return to the designated zone becomes highly probable.
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