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DAX 30 Resumes Uptrend After Pullback & Bounce at 23.6% Fib

German stock index DAX 30 is building a choppy and corrective pattern, which seems to fit the expected wave 4 (green).
Chris Svorcik
Germany economy concept

DAX30

Daily

The DAX30 uptrend is expected to continue higher (green checks) but only once price is able to break above the resistance zone (red lines). A bullish continuation towards the Fibonacci targets is expected to complete wave 5 (green) of wave 3 (blue). A break below the Fibs of wave 4 vs 3 could invalidate (red x) the wave 4 (green) pattern.

4 hour

The DAX 30 seems to have completed a complex WXY (orange) correction within wave 4 (green) at the Fibonacci levels of wave 4 vs 3 (green). Breakout candles above resistance (red) could confirm the uptrend continuation.

For more daily wave analysis and updates, sign-up up to our ecs.LIVE channel.

Good trading,
Chris Svorcik
Elite CurrenSea

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