The DAX as you can see initially gapped lower at the open on Monday, finding the €8700 level as support. More importantly though, we found the €8900 level
The DAX as you can see initially gapped lower at the open on Monday, finding the €8700 level as support. More importantly though, we found the €8900 level as resistance, and that of course is a very negative sign as it was previous support. With that, we are willing to sell resistive candles in this general vicinity, and as a result we are somewhat negative at this point in time. On the other hand though, if we did managed to break back above the €9000 level, we would be buyers of the DAX at that point.
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.
