The German index initially tried to rally during the week but fell enough to form a shooting star. This tells me that the 12,000 level is going to be
The German index initially tried to rally during the week but fell enough to form a shooting star. This tells me that the 12,000 level is going to be awfully resistive, but given enough time I think there is enough support below at the 11,500 level to turn things around again. Expect a lot of volatility in choppiness, so it’s probably difficult to trade the DAX from the longer-term perspective right now. I still have a very bullish outlook though, so looking to short-term pullbacks a show signs of bullish pressure will be the way going forward as far as I can see.
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.
