GER40 Holds Key Fibonacci Support – Upside Continuation LikelyThe GER40 chart indicates that a larger A-B-C corrective structure has been completed at the recent low, marked as (C), after which the index began a fresh impulsive upward move. From that bottom, price has formed a clean five-wave advance, confirming the start of a new bullish cycle. The recent pullback appears to be a typical Wave 2 correction, which has respected the 0.5–0.618 Fibonacci support zone, a common area where corrections typically end. This suggests the correction is likely complete and the market is preparing for Wave 3, which is usually the strongest and fastest upward wave. As long as price holds above the Wave 2 low, the bullish Elliott Wave structure remains valid. Overall, the setup favours continued upside, with potential for higher highs in the coming sessions.
Stay tuned!
@Money_Dictators
Thank you :)
