Fri Sep 13 08:36:00 UTC 2024: ## DAX Index Poised for Further Gains, Targeting 19,500 – 20,000 Area

**Frankfurt, Germany -** The DAX index, Germany’s benchmark stock market index, is on track for further gains, potentially reaching the 19,500 – 20,000 area, according to analysts at Wavetraders. The firm points to a strong rebound in recent days, which they see as a fifth wave of a larger Elliott Wave pattern.

Wavetraders previously identified a textbook pattern in August, indicating support for wave (IV) of the pattern. Since then, the DAX has climbed back to its all-time highs, reaching the levels expected for wave (V).

Analysts note that the 4-hour chart shows a strong rebound resembling an impulse wave. They expect additional gains following the current reversal, which is likely to form wave four. Support for this wave is anticipated around 18,300-18,200, a level highlighted last week.

However, a decisive break below 18,000 could invalidate the current bullish outlook and suggest that wave five has already been completed.

The potential for further upside in the DAX aligns with a broader positive sentiment in global markets, with the US Dollar weakening and risk assets like Gold and Bitcoin performing strongly.

**Disclaimer:** The information provided in this article is for educational and informational purposes only and does not constitute financial advice. Trading on financial markets carries inherent risks and may not be suitable for all investors.

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