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Elliott Wave Analysis: German DAX in a Bullish Development

Elliott Wave Financial Service
By Elliott Wave Financial Service

German DAX made a recovery in five waves, up from the 10280 level which we labelled as wave 1 of a higher degree. Ideally a top has been posted for sub-wave v of 1 at the 11255 level, from where a three-wave correction started to unravel. This three-wave pullback can later look for support and a new bullish recovery near the 10818/10675 region.

German DAX, 4h

Elliott Wave Financial Service
Elliott Wave Financial Servicehttp://www.ew-forecast.com/
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