Looking at the bigger picture this year,DAX correction ( big ABC) isnt over yet.
Assuming there will be a correction in US markets.
From mid july to mid august a (bleu) Bat is forming
Retracement of the recent rally (10650-11800) almost a fact around 11230 (0.5fib)
Next leg up to 11650
Another retrace to 11k around mid august.
Final rally for this year to 12100 (1.27fib) ,should finnish around mid september.( leg B )
From mid september leg C comes in play The time when a US correction will start.
Assuming there will be a correction in US markets.
From mid july to mid august a (bleu) Bat is forming
Retracement of the recent rally (10650-11800) almost a fact around 11230 (0.5fib)
Next leg up to 11650
Another retrace to 11k around mid august.
Final rally for this year to 12100 (1.27fib) ,should finnish around mid september.( leg B )
From mid september leg C comes in play The time when a US correction will start.
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