Hello traders,

German DAX is trading nicely higher this month with a very nice and clear five sub-waves up from October 08 that looks like a wave three on the way up. If that's the case then we know that current pullback is wave four correction which will ideally find a support at 12472 level, that comes in at 38.2% Fib. So this appears to be a very nice potential bounce area.

German DAX, 4h