The German stock index DAX 30 bounced at the previous bottom (blue) and seems to be making a double bottom. The bullish bounce indicates the end of a bearish ABC wave pattern and the start of a bullish ABC.
The DAX 30 is expected to rise towards the Fibonacci retracement levels of wave B vs A, which in turn are likely to act as resistance spot. Price could complete a wave Y (orange) of the larger correction within wave B (green).
The DAX 30 is showing a downtrend and the current wave B (green) seems to be a pullback for more bearishness. A reversal at the resistance Fibs could see price challenge the support zone again.