DAX Wave Analysis – 31 May, 2021

May 31, 2021 at 04:12PM

• DAX reversed from key resistance level 15535.00

• Likely to fall to support level 15347.00

DAX index recently reversed down from the key resistance level 15535.00 (which has been repeatedly reversing the index from the start of April) – intersecting with the upper daily Bollinger Band.

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The downward reversal from the resistance level 15535.00 stopped the previous short-term impulse wave (iii).

DAX index can then be expected to fall further toward the next support level 15347.00 (low of the previous minor corrective wave (ii)).

From: The FxPro News Team https://fxpro.news/technical-analysis/dax-wave-analysis-31-may-2021-20210531/
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May 31, 2021 at 04:12PM

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