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stocksJun 12, 2026, 9:58 AM

DAX Correction Deepens as Elliott Wave Signals More Downside

The DAX index faces deepening losses as it tests the support line of its impulsive channel from March lows. Elliott wave analysis suggests the current decline may be a leading diagonal, pointing to further downside.

DAX

The DAX index is extending its correction, with price action now attempting to break below the support line of the impulsive channel that has guided the rally from March swing lows. The move is viewed as part of a higher-degree correction rather than a simple pullback.

According to Elliott wave interpretation, the structure of the current decline resembles a leading diagonal formation, which typically signals the start of a larger impulsive move in the opposite direction. This pattern warns of more downside in the near term.

Source: FXStreet Forex News