Market

Quarterly Report – Elliott Wave Technical Analysis

Forex – Metals – Energy – Indices

Market Volatility in 2018 – Projections & Flash Crash Preparation

Intro:

The Market has been trading within complex structures within the first quarter of 2018. As per the current Cycles and Elliott Wave counts, the overall position of the Market seems to be located at a somewhat crucial point, a juncture.

Wave Counts posted below are labeled under the presumption that the current and overall position of the Market represents a Complex Corrective Cycle.

During the 1st Quarter of 2018, EUR and Metals lost considerable ground due to the USD’s strength, with EUR/USD reaching the 1.1700 handle and XAU/USD resting after a sharp fall, on the 1285.00 decisive levels. WTI reached as high as 72.25 dollars per barrel and then reversing aggressively towards 64.00 levels, breaking the trend-line.

As per the explanations and illustrations below, the current Structures seem to be aligned for a possible shift in directions and/or continuation of the larger degree Patterns.

In the lines to come, an in-dept technical analysis is shared, with the views to be treated as medium-long term possible scenarios or forecasts.

Symbols analyzed:

  • Dollar Index (DXY)
  • VIX – CBOE Volatility Index
  • Dollar Index (DXY)
  • EUR/USD
  • USD/JPY
  • XAU/XAG (Gold & Silver Ratio)
  • GOLD (XAU/USD)
  • SILVER (XAG/USD)
  • Crude Oil (WTI)
  • SNP500
  • DAX30

This Quarterly report represents a detailed continuation of the previously posted “DXY Matador – Taking the USD Bull Down” article, and the Macro Perspective of the Market’s current position.

Elliott Wave Technical Analysis

VIX – CBOE Volatility Index

VIX seems to be preparing for another possible spike in volatility, dangerously hovering around 12.60 levels. This indicator is used by analysts to measure the state of buy-sell investors’ emotions, complacency versus the fear effect. In simple terms, a rise in the VIX would or could bring with it a sharp fall in Stocks and/or Indices. Last time the VIX spiked in early Feb 2018, Dow Jones, SNP500, DAX30 and most global indices shown big losses and bearish impulses. Market could be getting one more hit.

VIX – Weekly Chart (picture)

VIX – Weekly Interactive Chart

Dollar Index (DXY) – Elliott Wave Analysis

Dollar Index (DXY) – Daily Chart (picture)

The USD has been losing ground ever since Jan 2017, when a 1 year down-trend started. During this period, EUR/USD and XAU/USD enjoyed bullish trends, but USD/JPY shown weakness.

The down-trend on DXY has been labeled as a primary Degree Wave A (blue), the 1st leg of an ABC Primary Degree Structure.

This down-trend shows a Leading Diagonal in Intermediate (A) (turquoise), a Double Three (WXY orange) in Intermediate (B) (turquoise), and a sustained Impulsive Bearish Intermediate (C) (turquoise). Intermediate (C) (turquoise) is showing an extension, with a 5 swings sequence within its Minor Sub-waves (red 12345).

At this stage, it seems like the USD reached its bottom for 2018, as per the bullish swings which started in the second half of Feb 2018.

Wave Count on the DXY paints a picture in which the USD could be currently trading within an Intermediate Degree (A)(B)(C) (turquoise) Structure.

The current Bullish Sequence has been labeled as Intermediate Degree Wave (A) (turquoise), which, if correct, would pose as the 1st leg of Primary B (blue).

The 5 Swings Sequence present in Minor C (orange) seem to be ending, and with Minor C (orange) ending, so would Intermediate (A) (turquoise).

The current Bullish moves are approaching a strong Resistance at or around 95.00 Levels, which are the 50% Fibonacci Retracements of the previous Bearish Intermediate (C) (turquoise), sub-wave of Primary A (blue).

Should the Intermediate (A) (turquoise) finalize its cycle, then this would lead towards a Bearish Corrective Pattern within Intermediate (B) (turquoise), which could unfold in a 3 Swings Sequence and could be looking for 91.00 Levels before possibly heading higher and creating a new high for the year.

Dollar Index (DXY) – Interactive Daily Chart

DXY – Daily Resistance & Support:

  • Resistance: 94.30 / 95.30 / 98.00 / 102.00
  • Support: 91.00 / 89.30 / 88.25

DXY – Summary:

  • Expected to commence a Bearish Correction at or around 94.30 or 95.30 Levels
  • Bullish Impulse expected at or around 91.00 Levels

FOREX

EUR/USD – Elliott Wave Analysis

EUR/USD – Daily Chart (picture)

EUR/USD has been enjoying a sustained up-trend during 2017, while the USD depreciated. A full year of bullishness ended in the middle of Feb 2018, when the EUR softened and started a complex consolidation which was followed by a major sell-off, depreciating approx. 1000 pips.

The 2017 aggressive rise has been labeled as an Intermediate Degree (A)(B)(C) (turquoise) Bullish Sequence, thus completing a Cycle Degree, labeled as Wave W (blue).

Moving into 2018 and the 1st quarter, EUR/USD loss of approx. 1000 pips has been labeled as a Complex Structure, more exactly an Intermediate Degree (W)(X)(Y) (orange).

At this stage, the 1st Primary W (pink) Bearish Swing of the larger degree Structure appears to have completed and EUR/USD seems to be gaining Support around 1.1500 Levels.

If the current labeling would turn out to be correct, then this would lead EUR/USD towards a Bullish 3 Swings Sequence journey, which would reflect as Primary X (pink).

This Bullish Sequence could be determined to test the 1.2150 levels, which could pose as a Strong Resistance. The mentioned 1.2150 Levels reflect 61.8% Fibonacci Retracements of the 1st Quarter fall but could also turn out to be the right shoulder within a complete Head & Shoulders Formation.

Should the 61.8% Fibonacci Retracements hold and the Bearish Sequence to be destined for a continuation, then Primary Y (pink) could even reach as low as 1.0800, because the Gap left behind by the French Elections remained unfilled.

However, this being a Primary X (pink) Wave, it could also breach the 1.2150 Levels, and even tag the 1.2550 previous tops.

EUR/USD – Daily Interactive Chart

EUR/USD – Daily Resistance & Support:

  • Resistance: 1.2150 / 1.2550 / 1.2800
  • Support: 1.1500 / 1.1300 / 1.0800

EUR/USD – Summary:

  • Expected to commence a Bullish Correction which could reach 1.2150 Levels
  • Bearish Impulse expected at or around 1.2150 Levels

USD/JPY – Elliott Wave Analysis

USD/JPY – Daily Chart (picture)

USD/JPY benefited from the crucial 100.00 Levels and gained an important Support during 2016’s summer time. This resulted in USD/JPY getting a sling-shot effect and delivering an impressive 2000 pips (approx.) Bullish Rally. This Swings has been labeled as Primary W (turquoise).

Moving into 2017, USD/JPY started crumbling down, unfolding with a very complex Corrective Structure, in what appears to be the Primary Wave X (turquoise).

This Complex Bearish Correction lasted a considerable amount of time, ending near the end of March 2018. That is when USD/JPY honored the Golden Ratio and hit the 61.8% Fibonacci Retracements of Primary W (turquoise), resulting in the decisive up-lift and starting a Minor Degree ABC (blue) Sequence, which has been labeled as Intermediate (W) (orange).

At this stage, it seems as if Minor A (blue) finalized at the 111.00 Levels, reversing rapidly and possibly starting to unfold the bearish legs within Minor B (blue).

Minor B (blue) could reach as low as 107.00 Levels, but it can also retest the 105.50 Levels, due to the nature of this type of wave.

Should this scenario be correct, then USD/JPY would be expected to resume the overall up-trend with an Impulsive Bullish Sequence, labeled as Minor C (blue).

According to the Daily Structure, if USD/JPY would gain Support once more and commence a Bullish Rally, then this Swing could reach as high as 118.00, or even 124.00 Levels.

USD/JPY – Daily Interactive Chart

USD/JPY – Daily Resistance & Support:

  • Resistance: 111.00 / 114.00 / 118.00 / 124.00
  • Support: 107.00 / 105.50 / 103.00

USD/JPY – Summary:

  • Expected to continue with the Bearish Correction which could complete at or around 107.00 Levels
  • Bullish Impulse expected at or around 107.00 or 105.50 Levels

PRECIOUS METALS

Gold & Silver started 2016 with a bang, gaining supports and delivering outstanding Bullish Swings, reaching their tops during the summer of the same year, and hitting levels which were not seen again since then.

The Wave Counts shared below are labeled under the presumption that Metals were trading within Complex Corrective Patterns. This is because of the conflict of degrees and conflicts of corrections.

Since July 2016 and until present times, Metals have been unfolding with sideways movements, with no clear directions, without sustained Impulsive Swings, developing swings which were mostly correcting one another.

After 2 years of choppy and sideways movements, the Precious Metals sector seems to be returning towards the Bullish side, as multiple technical factors seem to be pointing towards that scenario.

The interesting thing which could be pointed out would be that Silver looks as if it could outshine Gold if a Bullish Rally would occur in 2018.

Gold / Silver Ratio – XAU/XAG – Elliott Wave Analysis

XAU/XAG – Monthly Chart (picture)

The Gold/Silver Ratio chart suggests that the demand of Silver would be higher than the one for Gold.

The current Elliott Wave Count on the Monthly Chart would place XAU/XAG in a Primary C (blue) Impulsive Bearish sell-off, within a Cycle Wave Y (orange), of a higher degree Super-Cycle Wave (B) (purple).

XAU/XAG seems to be channeling within what appears to be an Ending Diagonal in the last 5th Minor Wave (blue), within Intermediate (C) (green) of the even larger degree Primary B (blue) Wave.

The pink horizontal lines represent decisive Support and Resistance Levels.

The 86.00 Levels could be treated as the Resistance, under the scenario in which XAU/USD would unfold the last Bullish Swing needed for the completion of the potential Ending Diagonal.

The 74.00 Levels could be treated as the decisive Support and a Bearish Breach could confirm the down-trend.

XAU/XAG – Monthly Interactive Chart

XAU/XAG – Monthly Resistance & Support:

  • Resistance: 86.00
  • Support: 74.00

XAU/XAG – Summary:

  • Expected to start a Bullish Swing from the current 77.00 Levels and complete the Ending Diagonal pattern at or around 86.00 Levels
  • Bearish Impulse expected at or around 86.00 Levels

XAU/USD – Elliott Wave Analysis

 XAU/USD – Daily Chart (picture)

XAU/USD got catapulted on the up-side back in December 2015, commencing an impressive Bullish Sequence and ending these moves in the summer of 2016. The most it reached was 1375.00 Levels and these figures have not been seen again since then.

The 6 months of Bullishness were sharply followed with the same amount of time of aggressive Bearish sell-offs, resulting in a Complex 3 Swings Sequence which hit as low as 1125.00 Levels in December 2016.

Following the sharp drop in Gold prices, XAU/USD started to rise again for an entire year, unfolding with a Pattern which does not appear to be sustained, as the previous Bullish Rallies were.

Due to this reason, and from an Elliott Wave perspective, XAU/USD Daily Structure seems to reveal a Complex Cycle Wave WXY (blue) Corrective Pattern, with Cycle Wave Y (blue) representing the conflict of degrees.

The reason behind the Complex Structure would be because the period from December 2016 until present times would reflect a Corrective Structure, attempting to correct the period between July 2016 and December 2016, which would also represent a correction. This leads towards a corrective pattern correcting a previous correction, hence the reason why the current structure is unfolding within a Rising Channel, also the reason why the swings within it are not consistent.

Cycle Wave Y (blue) Structure has been labeled as a Complex WXY (turquoise), in a Double Three pattern.

The Bullish Intermediate (A) (green) Swing which started from 1240.00 Levels back in December 2017, rose until 1360.00 Levels, where XAU/USD faced a decisive Resistance. From early February 2018 and until present times, Gold price action movements unfolded with a Complex Structure within Intermediate (B) (green).

Gold is most likely about to make a crucial decision at or around the 1285.00 Levels, as it is resting on the lower trend-line of the Rising Channel. These levels appear to be holding so far, a Support could send this precious metal towards a Bullish Rally.

For the Double Three Pattern to remain valid, XAU/USD would need to gain support around the lower trend-line of the Rising Channel, so that the last Bullish Impulsive Wave would complete the pattern.

Bullish Intermediate (C) (green) would be expected to present an Extension and an Impulsive 5 Swings Sequence, aspiring for at least 1380.00 Levels, which are the 61.8% Fibonacci Extensions of Primary Waves W & X (turquoise). The secondary Resistance and the stronger one would be at or around 1450.00 Levels, which would also reflect the upper trend-line of the Rising Channel but also the 100% Fibonacci Extensions of Cycle Waves W &X (blue).

However, since the lower trend-line (blue) is delicate, a Bearish Breach would weigh on XAU/USD, and the next Support would be located at or around the 1270.00 levels. That is where the strongest trend-line (red) would pose as the most important decision this metal would have to do, as a breach of it could even sent it back towards a retest of the 1125.00 Levels, December 2016 lows.

The current Structure and the overall Wave Count would allow more probabilities for the Bullish scenario to occur, rather than the Bearish one.

 XAU/USD – Daily Interactive Chart

XAU/USD – Daily Resistance & Support:

  • Resistance: 1325.00 / 1360.00 / 1380.00 / 1410.00 / 1450.00
  • Support: 1285.00 / 1270.00 / 1250.00

XAU/USD – Summary:

  • Expected to start a Bullish Impulse from the current 1295.00 / 1285.00 Levels and possibly retest the 1380.00 Levels.
  • If the Bullish Impulse will present an Extension, the swing could even reach as high as 1450.00 Levels.
  • Bearish Impulse expected at or around the 1380.00 Levels towards the possible retest of the 1125.00 Levels, December 2016 lows.
  • If the expected Bullish Impulse will present an Extension, a Bearish Impulse would be expected at or around the 1450.00 Levels, towards the possible retest of the 1125.00 Levels, December 2016 lows.

XAG/USD – Elliott Wave Analysis

XAG/USD – Daily Chart (picture)

XAG/USD enjoyed the sling-shot effect from the 13.70 Levels, in tandem with XAU/USD, back in December 2015. The aggressive buying and the Bullish Swings within Primary W (turquoise) reached as high as 21.00 Levels.

Since July 2016 until July 2017, Silver lost 78.6% on the Fibonacci Retracements of Primary W (turquoise). The Retracement performed under what appears to be a very Complex Structure within Primary Wave X (turquoise).

The lowest readings seen were the 15.25 Levels and that is where XAG/USD reacted instantly with a Bullish Swing, which has been labeled as Intermediate (A) (green). This swing topped out at 18.00 Levels, where another Corrective Pattern began, labeled as Intermediate (B) (green).

Intermediate (B) (green) presents a Triple Three Pattern as well, with the end of the Bearish Correction showing signs of a possible end at or around the 16.35 Levels.

The current Structure could leave room for another drop towards the 15.85 or even 15.25 Levels, however, there would be more Bullish signs in favor, rather than a Bearish outcome.

Should the next moves honor the Bullish scenario, then Silver could commence a Bullish Impulse and reach the 20.00 Levels, where the 61.8% Fibonacci Extensions of Primary W & X (turquoise) are sitting. Primary W & X (turquoise) Fibonacci Extensions would be aspiring even for the 22.70 Levels, in the case in which Intermediate (C) (green) would present an Extension.

Unlike Gold, the structure on Silver appears to leave more and clearer signs of a Bullish 2018.

 XAG/USD – Daily Interactive Chart

XAU/USD – Daily Resistance & Support:

  • Resistance: 18.00 / 19.00 / 20.00 / 21.00 / 22.70
  • Support: 16.50 / 16.35 / 15.85 / 15.25

XAG/USD – Summary:

  • Expected to start a Bullish Impulse at or around the 16.50 Levels and possibly rally towards the 20.00 Levels
  • If the Bullish Impulse will present an Extension, the swing could even reach as high as 22.70 Levels

ENERGY

Crude Oil (WTI) – Elliott Wave Analysis

Crude Oil (WTI) – Daily Chart (picture)

Crude Oil (WTI) lost approx. $120 per barrel in value from 2008’s Recession until February 2016 when it finally gained Support around the 27.00 Levels.

The Bullish Structure leaves room to state that Crude Oil (WTI) could be trading within a Complex Structure as well.

Bullish Sequence on Crude Oil (WTI) from the February 2016 lows and until January 2017 highs, has been Labeled as the Primary Wave W (purple), with a Running Flat in Intermediate (B) (green) and an Ending Diagonal in Intermediate (C) (green).

The 6 months of Bearish Correction which followed, has been labeled as a Double Three Pattern in Primary X (purple).

From June 2017 up until January 2018 Crude Oil (WTI) resumed the Bullish Cycle and unfolded a sustained Rally in Intermediate (A) (green), presenting an Extension in the Minor C (light blue) sub-wave.

Intermediate (B) (green) Corrective Structure started with February 2018, with what appears to be a Complex Minor Degree WXY (red) Pattern. Within this Structure, Minor X (red) surpassed the end of Intermediate (A) (green) and the start of Minor W (red), getting Resistance at the 100% Fibonacci Extensions of Primary W & X (purple). In doing so, it would lead Intermediate (B) (green) to be labeled either as a Running Flat or as an Expanded Flat type of Corrective Structure.

In a Running Flat scenario, Minor Y (red) would not surpass the end of Minor W (red) and could find its end at or around the 60.50 Levels, where the 61.8% Fibonacci Extension of Primary W & X (purple) is located. In an Expanded Flat Scenario, Minor Y (red) would surpass the end of Minor W (red) and could find its end at or around the 54.50 Levels, where the 50% Fibonacci Retracement of Intermediate (A) (green) is located.

In a Bearish scenario, if the Expanded Flat 54.50 Levels would also be broken, then this could leave Crude Oil (WTI) in a bearish zone, with a potential to reach 45.00 Levels.

The preferred scenario would be the Running Flat, which would leave 60.50 as the levels in focus. Should Crude Oil (WTI) be able to gain Support there, then this would leave the overall pattern in the Bullish Intermediate (C) (green) position, which would be expected to be sustained and even present an Extension.

In a scenario where Intermediate (C) (green) would present the extension, Crude Oil (WTI) could rally towards 80.00 Levels but could also reach 90.00 or even 100.00 Levels.

Crude Oil (WTI) – Daily Interactive Chart

Crude Oil (WTI) – Daily Resistance & Support:

  • Resistance: 71.00 / 80.00 / 90.00 / 100.00
  • Support: 60.50 / 54.50 / 45.00

Crude Oil (WTI) – Summary:

  • Expected to complete the correction at or around the 60.50 Levels and resume the up-trend in an impulsive manner.
  • If the Bullish Impulse will present an Extension, the swing could reach 80.00 Levels, but could also reach 90.00 or even 100.00 Levels.

INDICES

SNP500 – Elliott Wave Analysis

SNP500 – 4H Chart (picture)

US Indices and most of the other global Stock Exchanges enjoyed 2 years of constant up-trend and an overall Bull Market. From February 2016 up until February 2018 SNP500 rose approx. 1000 points, showing sustained rallies and shot-lived corrections.

Eventually, SNP500 peaked in February 2016, and right after that this Index lost approx. 350 points. That is when the VIX spiked and volatility came back, resulting in a decrease in investors’ complacency and leaving room for periods of uncertainty.

The All-Time-High created at the end of January 2018 has been labeled as Primary Degree Wave 3 (blue).

Since the start of the year SNP500 has been showing signs of weakness, unfolding with limited swings and basically trading within a bigger degree sideways structure.

The entire Sideways Correction has been labeled as Primary Degree 4 (blue).

Intermediate (A) (red) represents the 1st leg of the entire Intermediate Degree (A)(B)(C) (red) Correction, which would be necessary for the completion of Primary 4 (blue).

After Intermediate (A) (red) broke significant supports, Intermediate (B) (red) began correcting the 350 points fall. The Structure appears to be unfolding as a Complex Flat Correction.

Intermediate (B) (red) is composed out of a Complex Minor WXY (purple) Structure, with all Minor Waves (purple) showing themselves Complex Patterns with their Minute WXY (pink) sub-waves.

Minor Y (purple) would be expected to complete Intermediate (B) (red) at or around the 2825.00 Levels, where the 100% Fibonacci Extension of Minors W & X (purple) is located.

The 2825.00 Levels are considered to reflect a Vibration Zone, since multiple Fibonacci Lines seem to align in that area.

Minor Y (purple) appears to be developing its waves within a Rising Channel, with Minutes W & X (pink) delimiting the upper and lower trend-lines.

Minute Y (pink) would be expected to finalize with a Bullish Overshoot in Minuette (c) (orange), retesting the rising Channel upper trend-line.

In a preferred scenario, the overshoot would be expected to reach as high as the 100% Fibonacci Extensions of Minuettes (a) & (b) (orange). However, in a scenario where it would involve an Extension, this swing could also reach higher levels, even create a new all-time-high.

Should the Flat Correction scenario turn out to be valid, then SNP500 would be left with Bearish Intermediate (C) (red), which could unfold with an aggressive sell-off, and with a sustained impulsive structure towards 2500.00 / 2475.00 significant Supports.

SNP500 – 4H Interactive Chart

SNP500 – Resistance & Support:

  • Resistance: 2825.00 / 2875.00 / 2920.00
  • Support: 2700.00 / 2600.00 / 2475.00

SNP500 – Summary:

  • Expected to complete the current Bullish Swings at or around the 2825.00 Levels.
  • Impulsive Bearish Wave expected to start at or around the 2825.00 Levels.
  • If the current Bullish Swings would be able to present an extension, then the 150-161.8% Fibonacci Extensions would reflect the 2920.00 Levels.

DAX30 – Elliott Wave Analysis

 DAX30 – Daily Chart (picture)

DAX30, like most of the global Indices, has been trading within a Bull Market and an up-trend, ever since February 2016. The Bull Market trend has been labeled as Super-Cycle Wave (V) (black).

Bullish Cycle Wave I (green) began with early February 2016, covering 50% of the losses which occurred during 2015. This Bullish Swing was corrected by Cycle Wave II (green) with approx. 61.8% on the Fibonacci Retracements scale, also establishing a strong Support highlighted by the rising black trend-line.

The Bullish 5 Swings Sequence period between July 2016 and November 2017 represents the strongest up-trend and it has been labeled as Cycle Wave III (green). This Bullish Rally presents a classic Elliott Wave Extension within the Primary Wave 3 (blue) sub-wave.

Cycle Wave IV (green) commenced its Corrective Pattern in the beginning of November 2017 and ever since then, it has shown Complex Structures. From an Elliott Wave standpoint, the Complex Corrective Patterns could be occurring because of the alternations between corrective cycles, if one is simple then the other would unfold as complex, in this case between Cycle Wave II (green) and Cycle Wave IV (green).

According to the current Wave Count, Cycle Wave IV (green) could be unfolding as a Complex WXY (purple) Primary Waves.

Primary W (purple) began the Bearish 3 Swings Sequence with Intermediate (A) (orange), which was followed by Intermediate (B) (orange), with a Complex Structure as well, due to the conflict between corrections and degrees.

Intermediate (B) (orange) finalized with DAX30 hitting a fresh all-time-high around the 13590.00 Levels.

The reaction at the 13590.00 Levels was instant. With VIX spiking, DAX30 lost approx. 1600 points in just one week. This Impulsive Bearish leg has been labeled as Intermediate (C) (orange), thus completing Primary W (purple).

Primary X (purple) unfolded as well with a 3 Swings Sequence, with a Leading Diagonal in Intermediate (A) (orange), a false break-out during its Intermediate (B) (orange) and an impressive Bullish Intermediate (C) (orange) wave. On the Fibonacci Retracement scale, Primary X (purple) managed to cover 78.2% of the entire losses caused by the VIX spike.

This Complex Pattern involves combinations of structures, hence the reason why Primary Y (purple) would not be out of the question.

Within Primary Y (purple), Intermediate (A) (orange) reversed sharply on the down-side and after that a correction began in Intermediate (B) (orange). The correction appears to be unfolding within a Rising Channel and the continuation levels for Impulsive Bearish Intermediate (C) (orange) would be located at or around the 13000.00 Levels.

Impulsive Bearish Intermediate (C) (orange) would be expected to commence at or around the 13000.00 Levels and it could even create a new yearly low, so it could complete the pattern and test the Strong Support trend-line (black).

Should DAX30 deliver the expected Bearish Impulse, then that would complete Primary Y (purple), but also the entire Cycle Wave IV (green), which would result in DAX30 possibly continuing with Cycle Wave V (green).

Cycle Wave V (green) would be expected to get Resistance at or around the 261.8% Fibonacci Extension of Primary Waves 1 & 2 (blue). The 14400.00 Levels also appear to be lining up with the 61.8% Golden Ratio and Fibonacci Extension of Cycle Wave III & IV (green).

 DAX30 – Daily Interactive Chart

DAX30 – Daily Resistance & Support:

  • Resistance: 13000.00 / 13650.00 / 14400.00
  • Support: 12450.00 / 12000.00 / 11650.00 / 11350.00

DAX30 – Summary:

  • Expected to complete the current Correction at or around the 13000.00 Levels.
  • Impulsive Bearish Wave expected to start at or around the 13000.00 Levels.
  • If Bearish Impulse would be delivered, a Support is expected to occur around 11650.00 or 11350.00, which could send DAX30 on a Bullish Impulse towards the 13650.00 or even 14400.00 Levels.

Outro:

Dear friend and trader,

Thank you for taking the time to go over the presented material. Hopefully it will be useful to you when charting or would be at help when about to make an important trading decision.

Should you choose to possibly expand your trading knowledge or to get updated on Market movements, then you may join the live sessions which I am sometimes hosting.

Many pips ahead,

Richard