DAX has been moving sideways in the last few trading sessions – after the recent sharp reversal from the 61.8% Fibonacci Correction of the preceding minor upward impulse wave from the end of the intermediate ABC correction (2).
The index is currently trading close to the upper resistance trendline of the daily Triangle from the start of April. If DAX breaks this Triangle it can rise to the next buy target 9730.00 (top of the earlier impulse (1)).DAX will also need to break the upper channel line of the daily down channel from January to reach this target.
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