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
