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DAX Forecast November 12, 2015, Technical Analysis

By:
Christopher Lewis
Updated: Nov 12, 2015, 05:22 UTC

The German index initially rallied during the day on Wednesday, but found the €11,000 level a bit too resistive again. Because of this, we ended up

DAX Forecast November 12, 2015, Technical Analysis

The German index initially rallied during the day on Wednesday, but found the €11,000 level a bit too resistive again. Because of this, we ended up pulling back a bit and forming something akin to a shooting star. Nonetheless, we do think that there is more than enough support below to keep this market afloat, as the €10,500 level getting broken above was a significant move. Any pullback at this point in time the show signs of support is a buying opportunity as far as we can see, as well as a move above the €11,000 handle on a daily close. In the way, we are not selling the DAX right now.

 

DAX Forecast November 12, 2015, Technical Analysis
DAX Forecast November 12, 2015, Technical Analysis

About the Author

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.

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