• Dax broke key resistance level15800,00
• Likely to rise to resistance level 16000,00
Dax index under the steady bullish pressure after the price broke above the key resistance level15800,00 (which has been repeatedly reversing the index form the middle of June, having stopped the previous impulse waves (iii), (b) and (iii)). The breakout of this resistance level15800,00 accelerated the active impulse waves (iii) and 3 – which belong to the higher order impulse wave (3) from the end of January
Given the prevailing uptrend – Dax index can be expected to rise further toward the next round resistance level 16000,00 (target price for the completion of the active impulse waves 3 and (v))- from where Dax is likely to correct down.