The market is still ranging on smaller degree, but the 4 hours chart may show signs of a bearish opportunity though. The momentum failed to reach the sustainable bull zone and the RSI stopped at the top of the bearish support (and even get a little bit into a neutral zone white zone). Another important thing about this time frame is that the L/L and L/H series are converging with the RSI.
A downside break out from the range shown on the 15 minutes and 1 hour chart would suggest that the bears on the 4 hours chart want to test the lower part of the bigger range. This would trigger at least a wave [c] of a really complex flat pattern. Due to the triangle shape, which was created last week, in this cases the wave [c] is either going to be an ending diagonal, or this small range shown on the 15 minutes chart is actually going to be a bearish (i)-(ii)-i-ii situation (instead of a bullish (i)-(ii)-i-ii series, which I wrote about yesterday).
I can't really commit to either side on higher time frame until the market keeps ranging and only try to find smaller degree setups.
|DAX (CFD) - m15 - h1 - h4 charts|