Photo by Jason Briscoe on Unsplash
 

Stocks are in an uptrend, with DAX now also waking up, despite some strong sell-off at the start of the month down to 15450 area. Notice that from where we can see nice higher highs and higher swing lows, which is the personality of an uptrend, and we believe it's impulsive because of no overlaps. As such, more upside can be seen after pullbacks. First support is then at 16046-16000 area. Also, when looking at the 4h time frame, there is a broken channel, that can become support on this pullback (check 4h EW count).

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