Dax is unfolding a sharp decline on intra-day chart, which we now see it as part of a bigger wave C. Specifically we see price trading in the steepest and strongest sub-wave three, which can extend its gains towards the Fibonacci ratio of 161.8, before make a three wave temporary correction into the following wave iv. Resistance for the upcoming wave four can later be around the 12306 level.
German dax, 1h
