DAX: 22,000 € Target in Sight!

8 Nis

Since our short scenario for the DAX was invalidated, we had to reanalyze and concluded that we are dealing with a very long and extremely bullish scenario, as it's the only other option we have left for the DAX. We assume that, on the weekly chart, we will reach a minimum level of 22,000€. This scenario is supported by a trend channel that we have now broken and exited upwards. Therefore, we expect to reach levels between 19,700 and 23,000 for Wave 3, which will only serve as a catalyst for even higher movements. As seen, we anticipate the overarching Wave (3) to reach levels between 25,400 and 31,400. There's still a lot of potential and room for upward movement, and given our invalidation, we will now be looking for long entries. As always mentioned, the economy increasingly reflects less of what happens in the markets, diverging more from economic activities, making it somewhat perplexing when considering Germany as a whole and the remarkable performance of the DAX.