The DAX broke higher during the course of the day on Monday, clearing the top of the shooting star from Friday. Because of this, we believe that the
The DAX broke higher during the course of the day on Monday, clearing the top of the shooting star from Friday. Because of this, we believe that the German index will continue to climb, perhaps reaching as high as €11,600 in the short-term. We also believe the pullbacks should offer buying opportunities in what is an obvious rally at this point in time. If we can get above the aforementioned €11,600 level, we feel the market could go much, much higher. We noticed in selling and believe that pullbacks will find plenty of buying pressure below.
Being FXEmpire’s analyst since the early days of the website, Chris has over 20 years of experience across various markets and assets – currencies, indices, and commodities. He is a proprietary trader as well trading institutional accounts.
