German DAX Trading Into Potential Reversal Zones

German Dax is finally breaking out of a fourth wave triangle, now in fifth wave so there is room for a move up to 12910/12950 region, where market may find a temporary resistance and send price south in three waves. We see some important Fibonacci ratios at the mentioned region that can react as turning point zones. A later minor five-wave drop and a break below the channel line would indicate a change in trend.

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