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
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
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.
