GER 30 Wave 4 Retracement Possible Re-test 11500

FX:GER30   DAX Index
176 0 2
I am watching for confirmation that we have begun a Wave 4 Retracement on 1h Chart.

There is bullish divergence appearing on the RSI & MACD between Wave iii             and v possibly signalling a short term bottom.

As Wave 2 was a short uptrending 3 Wave Zig~Zag Correction by law of alternation I am looking for a drawn out 3 Wave Flat Correction over the next couple of days. Pending information on Greece's debt crisis.

Wave 4 should not break above the lows of Wave 1 (11585). This analysis will be voided if this occurs.

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