German DAX Can See Deeper Correction; Support At 14000 - 13500
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DAX is waking up, making higher highs and higher swing low which is a bullish trend since March low, so we can expect more upside after any retracement since this is wave A, still only the first leg of a higher degree A-B-C recovery. We can actually see a completed five-wave cycle within first leg A, so looks like correction in wave B is now in play. That said, an upcoming A-B-C setback can retest 14000 - 13500 support area before a continuation higher.
Also, keep in mind that if ECB turns out to be more hawkish and if we will not get any positive news out from the Ukraine-Russia situation then DAX can be easily come down into wave C.
Video Length: 00:07:15
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