DAX seems to be tracing the end phase of a minor ABC pattern that should complete intermediate wave 2 up. The retracement is getting near the most probable 0.618 fibonacci level for waves 2. After this leg is completed, DAX should trend to new lows. Volume confirms the counter-trend correction as it has been declining while prices increasing. FOLLOW SKYLINEPRO TO GET UPDATES.
Trade closed: target reached:
DAX seems to have reached the measures and wave counts of the primary wave 2 counter trend rally. There is an alternative possibility that it goes up to 12,664 before trending down to new lows.