The DAX fell initially during the course of the week, but found a significant amount of support at the €9400 level. By doing so, we continue to bounce and
The DAX fell initially during the course of the week, but found a significant amount of support at the €9400 level. By doing so, we continue to bounce and then we broke above the €10,200 level. By doing so, it looks as if we are ready to head towards the €10,400 level, which offered a bit of resistance. If we can break above there, we feel that the market then continues to go as high as €11,800 given enough time. The DAX looks as if it is finding support in that range just below, and as a result we think the buyers are coming back.
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.
