the German stock index, DAX 30, is showing strong bullish momentum. The current impulsive price action is probably a wave A (blue) of larger ABC zigzag. For more daily updates check out ecs.LIVE.
The DAX 30 has reached the a few resistance trend lines which could cause the the index to make a small bearish pullback. However, price is eventually expected to continue higher and test the next 61.8% Fibonacci retracement level of the wave X vs W.
The DAX 30 has probably completed a wave 3 (green) impulse due to strong bullish price action. The current bearish retracement is most likely a wave 4 (green) and is expected to find support and a potential bounce at the Fibonacci levels of wave 4 vs 3.
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