The German index initially rally during the week but turned around to show signs of weakness. Preceded by a hammer, this suggests that we are going to
The German index initially rally during the week but turned around to show signs of weakness. Preceded by a hammer, this suggests that we are going to consolidate in this general vicinity. I still believe that there is a massive amount of support near the €11,500 level, so given enough time I think that we will get a continuation of the previous uptrend, but it may take a while. A break above the top the candle would be a buying opportunity though, as it would show a continuation of strength.
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.
