German DAX has been trading south for the last year or so but it might have been only a temporary decline if we consider that structure is pointing up because of overlapping decline from 12424 to 8690 low, labeled as an A-B-C correction. That said, traders should be aware of even higher prices ahead as DAX recently completed a three wave set-back in blue wave 2 and later made a new bullish reversal higher into blue wave 3-circled.

If price breached beneath 8690 region, we would adjust the count.

German DAX, Daily