We are observing a slow, and choppy price development taking place on German DAX since mid of October. It looks to be a symmetrical triangle pattern in play, which is contracting and now unfolding leg C. Leg C can look for resistance and reversal into the following leg D at the upper triangle line. That said, a triangle in this case is a bearish continuation pattern, meaning once fully developed a new leg towards new lows may follow. We expect to see wave 5) develop, which can take price towards the 10888/10670 region in upcoming sessions.
German DAX, 4h
