Dubai DFMGI: Elliott Wave Forecast

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DFMGI Weekly chart


From the above chart, I have come to a conclusion that DFMGI is all set to start a fresh leg up in form of an impulse wave as it has completed wave (a-b-c) and it now moving up in form of wave (i-ii-iii-iv-v). In which it is likely that wave i looks to be expanding leading diagonal pattern, once that is complete wave ii will dip close to 61.8% of wave i followed by wave iii higher. My target for DFMGI will be 3800-4000 levels as it completes wave iii of wave i at one higher degree.

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