The DAX gapped lower at the open on Wednesday as you can see, and diving much lower. However, the market should be well supported near the €10,600 level,
The DAX gapped lower at the open on Wednesday as you can see, and diving much lower. However, the market should be well supported near the €10,600 level, and that of course is a major barrier. We believe that sooner or later the markets will come back into the upside as buyers recognize value. With that being the case, we are simply waiting for supportive candle in order to start going long, and have no interest whatsoever in selling as the DAX is far too well supported in this area. Ultimately, we could sell this market, but we need to clear some major support below first.
Chris is a proprietary trader with more than 20 years of experience across various markets, including currencies, indices and commodities. As a senior analyst at FXEmpire since the website’s early days, he offers readers advanced market perspectives to navigate today’s financial landscape with confidence.
