DAX Can this pattern cause a 20500 correction?DAX IndexXETR_DLY:DAXTradingShotDAX (DE40) has been trading within a 17-year Channel Up since the bottom of the 2008 U.S. Housing Crisis. This pattern has had 4 major corrections (Bearish Legs), excluding the March 2020 COVID flash crash. All of those corrections hit at least they 1M MA50 (red trend-line) before bottoming and right now we haven't hit that trend-line since late October 2022 (the longest within this pattern). At the same time, the 1W RSI is displaying the same kind of Lower Highs Bearish Divergence as the late 2021, late 2018 and June 2011 market Tops. The minimum decline such Sell Signals caused has been -24.35%. As a result, if this signal is confirmed again, a -24.35% correction from the recent High would certainly make contact with the 1M MA50 after 4 years. Our Target is a bit higher at 20500, as this is where the 0.5 Channel Fibonacci level is, which has also always been hit during those Bearish Legs. --- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** --- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇