German Dax is pointing to a bearish reversal after price unfolded a five-wave recovery within higher degree wave C). We are tracking a five-wave, overlapping recovery which just touched potential resistance levels at 12598-12641 level, which can push price lower. Also the equality measurement of waves a and b project end of a sub-wave 5 of C). If we get a turn in impulsive fashion and below the 12378 level, then bears will be confirmed.
German Dax, 1h
