The DAX fell during the course of the week, testing the €10,800 level for support. We could drift a little bit lower from here, but we see quite a bit of
The DAX fell during the course of the week, testing the €10,800 level for support. We could drift a little bit lower from here, but we see quite a bit of support near the €10,500 level, so somewhere in that area we believe that the buyers will return. A supportive candle could end up being a nice buying opportunity given enough time, but we need to wait until we get the weekly candle in order to place that longer-term trade. We have no interest in selling at this point though, because quite frankly there is a massive amount of support below.
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.
