DAX approaching final corrective level as it lifts above 18,400 today

If we look at the price action of DAX since it set an all time high at 18,892 back in May this year and then reverse to a low at 17,024 on August 5, we can see it has now recovered much of that that loss. The index has lifted back above 18,400 for the first time since hitting that low two weeks ago. The next and potentially final corrective level of that downside move comes in at 18,452 and as you can see, it is not far away now. That price point represents a 76.4% correction of the whole fall to 17,024. The index has lifted to high so far today at 18,417.96, but it has backed off a bit now, currently trading ay 18,403