- DAX has strong uptrend
- It unfolds wave 3
- RSI divergence signals for a correction
DAX is still in strong uptrend, with an accelerating price action through February, March and April so index can still be in the middle of a bullish impulse that will be expected to resume after any corrective decline, but only while market trades above red support line.
At the moment we see index trying to complete blue wave 3 with a divergence seen on the RSI so maybe there will be a correction coming through summer.
DAX Daily Elliott Wave Analysis Chart
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