German Dax can be trading in a bigger complex correction, which we labeled as big wave IV. As things stand right now, we see price unfolding a Elliott wave flat pattern, which is a complex pattern. Its structure is a 3-3-5, with final leg C having five legs and being motive (has five waves).
That said, Dax looks to have found a top for sub-wave C) of B at the 13603 level recently, so current drop can be a suggestion for more weakness towards blue wave C of IV. A breach below the 13129 level would be a confirmation for more weakness.
For more detailed video analysis go here: https://www.fxexplained.co.uk/forex-articles/technical-analysis/german-dax/