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DAX - potential Ending diagonal
DAX is caught in a tight range since the "vaccine spike" back on 9th of November. It looks like the classic ED (ending diagonal) pattern, so ideally it should have one last push higher before rolling over.
The ED is my preferred scenario at the moment. This could also be just a complex correction with a b-wave high (in which case the lower trend line could break directly) or even a nested bull wave (series of 1-2 waves) which should start running higher in earnest. I do view the nested bull waves as the least likely scenario and will only consider it in case price breaks the upper trend line with authority and keeps running.
The ED is my preferred scenario at the moment. This could also be just a complex correction with a b-wave high (in which case the lower trend line could break directly) or even a nested bull wave (series of 1-2 waves) which should start running higher in earnest. I do view the nested bull waves as the least likely scenario and will only consider it in case price breaks the upper trend line with authority and keeps running.
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