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.
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.
