DAX – German DAX Composite

Last updated May 20, 2019.

Price found support right at the lower trend channel line and bounce higher, A break below last week’s low and that trendline can usher in a move down to the low 11,000s. Thus the current overlapping price action continues to strongly suggests the DAX has topped for its B-wave and wave-C of Cycle-4 has started. A move and close below the grey S/R zone is still needed to tell the recent rally has ended. Once Cycle-4 is complete, Cycle-5 will rally to ideally the 15,500 zone to complete Super Cycle-3, then all that’s left are super-cycle 4 and 5…