German DAX rallied in five waves from 10726 low so we are bullish on DAX especially as pullback to 10800 is now in three waves which can be wave 2 of 5). However, a little bit of more patience is still required as I would love to see push back to 10959 before we may look straight up to 11150 and 12000. Break beneath 10726 will invalidate the wave count and suggest that red wave 4) is still unfolding.

German DAX, 1H

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