InvestMate|DAX Where will the correction end? 🇩🇪

15 nov. 2022

🇩🇪 DAX Where will the correction end?

🇩🇪 The last few months on the main German DAX index have been really rich in growth since the bottom we have made a correction with a range of more than 22%.

🇩🇪 In my opinion, now is the right time for a correction and to look for where it could end.

🇩🇪 On the chart I applied several technical analysis tools.

🇩🇪 At the very beginning I determined an upward trend channel. From which we have not been able to break out.


🇩🇪 I measured from the bottom to the current peak the current upward wave using a fibo grid in order to find intervening places to buy.


🇩🇪 With the help of the 0.5 level of the entire upward wave and the fact that the price has reacted at these levels in the past, I determined a support zone.


🇩🇪 Based on the recent current highs, I determined a resistance zone.



🇩🇪 The scenario I am playing out is to execute a correction in the entire uptrend momentum to the support levels marked on the chart

🇩🇪 *Please do not suggest the path I have drawn with the lines this is only a hypothetical scenario for further increases.

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16 nov. 2022

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