The $DAX: Swing Count, Retracement Zone and Target

The $DAX has entered a retracement zone consistent with a correction of some degree (I have labelled it as an intermediate 2, but that remains to be seen).

In any case, I see a seven-swing overlapping structure from the highs, which is consistent with a correction. It has kissed the 23.6% retracement of the prior advance and is diverging. At a minimum, we may expect a rally from here heading to the orange box above.

DAX


[UPDATE]: The target range has been reached.

DAX


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