German DAX is still unfolding a wave 4) correction which can be looking for resistance and a reversal around the 11700 area; that’s just above 38.2% Fib. level and close to a trendline connected from 12465 level. Also, recovery is overlapping so we would not be surprised if price would come lower in upcoming sessions. That said, a reversal in impulsive fashion would suggest a drop into wave 5).
German DAX, 4h
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