Monday, August 25, 2014

DAX - Wave iv has meet strong resistance at 9,470

DAX - Wave iv has meet strong resistance at 9,470

We have seen the expected rally to resistance at 9,470 just below the 61.8% corrective target at 9,501.77. Ideally we will see resistance at 9,470 protect the upside for a break below 9,291.93 confirming, that wave iv is over and wave v lower to 8,749.51.

Wave iv is alternating nicely from wave ii, which became an expanded flat correction, while wave iv is becoming a double zig-zag correction.

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