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German DAX Could Face A Potential Breakdown

Elliott Wave Financial Service
By Elliott Wave Financial Service

German DAX has been trading higher last week but it stopped at the upper side of an ending diagonal where it may be an important reversal for the next few days. In fact we see a nice decline at the moment back below 11970 which suggests that top can be put in place. Further weakens and break below wave 4 may even cause a decline back to 11400 area this month.

German DAX, 4H

Elliott Wave Financial Service
Elliott Wave Financial Servicehttp://www.ew-forecast.com/
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