DAX Holds Trendline Support but Bigger Correction May Not Be Over

The article argues that Germany 40 (DAX) is holding trendline support from the March lows, leaving room for a short-term rebound, but the broader correction may still be underway. The author expects any bounce to unfold in a three-wave corrective structure, with upside likely capped around 24,700–25,000 before renewed downside risk emerges. On the larger timeframe, the next major support zone is seen near 23,000–23,600, with an open unfilled gap around 23,000 adding to the bearish technical backdrop. Overall, the piece suggests near-term stabilization, but warns that the index may remain in a corrective phase and could still face further downside before a durable reversal develops.