The DAX Index initially rallied on Tuesday but ran into quite a bit of trouble at the €12,500 level. This is a large, psychologically important number, so
The DAX Index initially rallied on Tuesday but ran into quite a bit of trouble at the €12,500 level. This is a large, psychologically important number, so I think that sellers may enter the market and try to push the DAX lower to fill the gap. Because of this, I anticipate some softness over the next couple of sessions. However, this does not change my longer-term outlook of bullish pressure. If we can break above the €12,500 level, that would be a sign that we are going to go much further to the upside.
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.
