The DAX rallied during the week, but gave back some of the gains. Most important, it appears that the gap at the €12,000 level on the daily chart is
The DAX rallied during the week, but gave back some of the gains. Most important, it appears that the gap at the €12,000 level on the daily chart is holding, so I think we may get a bit of an upward surprise. Alternately, if we break down below the €12,000 level, the market will probably send this market much lower, perhaps down to the €11,500 level. Either way, I think volatility is probably a bit of a given, but the uptrend is still very much intact, so even if we break down, I still believe that it is only a short term situation.
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.
