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.
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.
