Dax Reaching a critical level

DAX - German stock markets reach a critical deciding point. The fall from the Dec high completed 5 waves down. If complete we can mark A-B-C in a falling channel as shown below and call a bottom. Till the recent lows do not break indicating wave extentions this is the best case scenario.

 

The falling channel coincides with the long term rising channel from 2009 as well. So this is a level at which the up trend re-asserts itself or a break down confirms a larger trend reversal.