The DAX Index rallied during the day on Friday, reaching towards the €12,500 level. That area has been resistance, but if we can break above there the
The DAX Index rallied during the day on Friday, reaching towards the €12,500 level. That area has been resistance, but if we can break above there the market should continue to go much higher. If we do pull back from here, it’s likely that the market participants will look at that as value, as we have been in such a strong uptrend for so long. I believe that this is a “buy on the dips” market longer-term, and therefore will ignore any sell signals until we get well below the €12,000 level.
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.
