E German DAX Trading Bearish


German DAX is picking up from the lows, indicating that a higher degree correction is here. We are talking about wave 4) which can be looking for a resistance around 11700 area; that’s just above 38.2% Fib. level and close to a trendline connected from 12465. Also, recovery is overlapping so we would not be surprised if the price would come lower.

German DAX, 4h

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