Dax
Complicated phase now on the DAX....
The pattern we have today on daily chart is "probably" an IN NECK continuation pattern, but we can't be sure because it is very very similar to the MEETING LINES reversal pattern, i think more probably is a continuation, none of the two bars are Marubozu, and the close today is little above the previous close, therefore it match better the features of the IN NECK....but...as usual the last world belongs to the market with the next bar, that can confirm or not this idea...
Here i put also my current count of the DAX hourly....
Is well visible that i consider the count is still opened.....for me we have an extended wave 5 ongoing....and the lower low of this morning is rather the confirmation that the last move (daily three star + engulfing and reversal) was a corrective wave and if it's correct, there are more possibilities that the lower low today is not the end of the impulsive 5 wave but a part of the current corrective wave "iv" like visible in the image....
The confirmation or not of this view pass for the breakout of the wave "i" at 6001,5....
If the level will be passed we will know we already are in the new bullish impulse, otherwise if we will have a reversal before the level, we can expect the bearish continuation till the natural target at about 5784.
bye.