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DAX with breakout of ascending wedge: Beginning of a deeper correction?

Technical Picture:

⬆⬇ Correction of the upward trend
⬇ Megaphone prints 7
⬇ Sequential prints 11 and starts downward counting
⬇ DeMarker heads towards oversold zone
⬇ Price Action with a bearish gap and the possibility of forming a Three Black Crows pattern
⬇ Breakout of the ascending wedge

DAX Daily Chart:

DAX Daily Chart
DAX Daily Chart
DAX Daily Chart
DAX Daily Chart
DAX Daily Chart

In Conclusion:

If today’s bar fails to fill the bearish gap and closes below 19,000, the price will most likely head for a test of the confluence of the 65 SMA and 38.2 FIBO around the price zone of 18,660.

Alternative Scenario:
If today’s bearish gap is filled, I expect the price to fill the previous bearish gap around the price zone of 19,500.

Fundamentals:

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The 12-month average expectations are for 21,832, a possible return of 14.2%.

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