The DAX Index gapped at the open on Monday, as the French elections preferred the status quo. Because of this, we are now approaching the €12,500 level,
The DAX Index gapped at the open on Monday, as the French elections preferred the status quo. Because of this, we are now approaching the €12,500 level, an area that I think will cause a little bit of psychological resistance. With that being the scenario, I believe that pullbacks will be looked at as potential value, and I will treat them as such. I’m looking for support of candles on those pullbacks to go long of a market that is very well supported. Alternately, if we break above the €12,500 level, the market should continue to go much higher.
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.
