E Completed Five-Wave Rally On DAX Indicates A Temporary Correction

German DAX made a nice bullish five-wave activity up from February lows. We can see a possibly completed five-wave rally within wave 1, which can now be followed by a temporary pullback as wave 2, with possible support around the Fibonacci ratio of 38.2/50.0. Once this correction fully develops, that is when wave 3 may take price higher.

German DAX, 4h

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