DAX completed the Right-Angled & Ascending Broadening Formation today. That means we have a statistical target on the upper side @13.910 and on the bottom side @12.795.
Now it is up to you to decide where to go. :)
In my chart different alternatives are marked. Basically, I see the DAX rather bullish, but it could well go a bit lower if the area around 13,000 breaks.
Bearish tendency offers the Wolfe Wave with the target around 12.850. From there the upward movement could start.
After a strong week, there could be a reset in the range 12,650 - 12,700 by Friday or early next week.In my opinion, one can definitely expect a market reaction here.
If this zone is broken through, the way is clear in the direction of 13.000/13.150/13.460
IMO Market still in correction mode with an ending diagonal. The wave 4 could maybe run a little higher before the downward movement of the wave 5 starts.
I think we will see a new low before the market moves towards ATH. So be careful with your long trades at this time. ;)
