DAX - W4 CASE
Dax at 12k2 touched trendline from 2009, see pic below.
In this chart ew count has been applied - if currently the red W4 is developing, then:
11850 needs to go and most important bold green ew 2-4 trendline
then correction targets would be retracement of w5 of red W3: 11600-11215-11k
or W3 retracement at 11075.
In daily picture, there is trendline running around 11500, below is support at 11k/10800
In this chart ew count has been applied - if currently the red W4 is developing, then:
11850 needs to go and most important bold green ew 2-4 trendline
then correction targets would be retracement of w5 of red W3: 11600-11215-11k
or W3 retracement at 11075.
In daily picture, there is trendline running around 11500, below is support at 11k/10800
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