German DAX is making a bounce for the last month which is impulsive so there is a chance that a low of a deep correction has been put in place. As such, we expect more upside within a new, five-wave, bullish cycle, but ideally after a pullback. Support for the upcoming higher degree correction, once a temporary top for a five-wave move is found, can be around 12600 - 12300.

German DAX, 4h