We talked about DAX on June 05, where we mentioned and highlighted that it’s still eyeing 25k-26k target area for a higher degree wave 5 of III on a daily chart. CLICK HERE

DAX made a deep drop in the 4-hour chart, but it still appears to be trapped in the consolidation that started in June, which suggests this remains a corrective pause within the broader uptrend. An updated wave structure points to a bullish ABCDE running triangle pattern in wave (4), as we see sharp bounce and recovery that can now be an ongoing wave D. It can recover the price back to the upper triangle line before we may see another slowdown within wave E.