DAX has recently found a high for a higher degree wave I at 13318 level, so latest price activity can be part of a three-wave correction within a wave II. We see leg A of II as completed, so recent rally can belong to sub-wave B, which can be ending. That said, a sharp, impulsive drop below the lower corrective channel line will confirm a sub-wave C of II to be underway, with possible support at the 12197/11600 level. If we get a deeper corrective wave II, then support at 11000/10200 area can also be reached.
German DAX, 4h
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