Dax is near at the end of wave 3 of 3 of C, it almost reached the 1,618 of wave 1 of 3 of C. A little bounce may be expected, but my opinion is that it will decline further.
Commentaire:
It seems that Dax found the end of wave 5 of wave 3 of C. And it has made a sharp rebound today. Though I can imagine that because the previous steep decline it makes an ending diagonal. in this case it can go a bit lower whilst it makes a choppy motion. But I hope that this is wave 4 of wave C.
Commentaire:
On the hourly chart DAX looks like forming a running triangle.
Commentaire:
Now it is definitely clear that it is not a triangle and it seems that the previous assumption is in place
Commentaire:
Dax should turn downward soon. It reached the 0,618 fibo level. If it reaches the next, then the label is invalid because the 4th wave would overlap the 1st.
