The DAX attempted to rally during the week, but found too much in the way of resistance at the 9700 level to continue. With this, we pulled back enough to
The DAX attempted to rally during the week, but found too much in the way of resistance at the 9700 level to continue. With this, we pulled back enough to form a shooting star, which of course is a bearish sign. This sign isn’t one we are willing to take as a selling opportunity, but rather a chance to buy at lower levels in the meantime. We are looking for supportive candles below, and then will be willing to get long at that point as this market has been trending higher for some time now.
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.
