Dax made a bounce from the 11322 level, where a bigger A-B-C move had found a low. Impulsive recovery which unfolded is an indication that a bigger, five-wave, bullish cycle can be unraveling on the dax, however we still need to be aware of temporary pullbacks along the way.
At the moment we are observing final stages of a wave 1) of a bigger cycle, which can once completed push price into a three-wave correction for a wave 2, with support at the 12543/12328 zone.
German DAX, 4h
