GER40 - Channel Pullback Signals Breakout AheadGerman 40 IndexPEPPERSTONE:GER40BrightRally_ResearchPrice is correcting within a descending channel after the recent high near 24,790, with structure showing lower highs and controlled downside. The key level to watch is the support zone around 23,600 – 23,650, which aligns with the lower boundary of the channel. A dip into this area is likely, and how price reacts here will decide the next move. Immediate resistance stands near 24,261, and a move above this level is needed to shift short-term momentum. From an Elliott Wave perspective, the correction looks like a WXY structure, with the current leg potentially completing wave (Y) near the support zone. If price holds 23,600 – 23,650 and breaks above the channel resistance, it can trigger a fresh impulsive move toward 24,790 and higher. However, a breakdown below this support would weaken the setup and open downside toward 23,200. We will update further information soon. @BrightRally_Research