The DAX as you can see gapped lower at the open on Wednesday, breaking down below the 9100 level decisively. We actually closed just below the 9000 level,
The DAX as you can see gapped lower at the open on Wednesday, breaking down below the 9100 level decisively. We actually closed just below the 9000 level, and that of course is a fairly negative sign. The lows back during the month of August were found that the 8900 level, and as a result if we can get below there we think that this market will accelerate to the downside, perhaps going as low as €8500 before it’s all said and done. On a daily close below that level, we are more than willing to start selling. On the other hand though, we formed a supportive candle near there, it could be a nice long-term buying opportunity.
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.
