The DAX as you can see fell during the session on Monday, but as you can see we are still well above the €9500 level. This €9500 level is very supportive,
The DAX as you can see fell during the session on Monday, but as you can see we are still well above the €9500 level. This €9500 level is very supportive, and as a result there is a nice-looking gap there on the chart. Because of this, we feel that this market should continue to go higher, so pullbacks to show signs of support in that general vicinity are enough to get us to start buying the DAX again. After all, Germany is without a doubt the strongest economy in the European Union, and we do believe that this parabolic market will eventually continue higher.
DAX Forecast December 31, 2013, Technical Analysis
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.
