The German index rallied significantly during the day on Wednesday, touching the 12,300 level. We pull back from there, and I think that we will go
The German index rallied significantly during the day on Wednesday, touching the 12,300 level. We pull back from there, and I think that we will go looking for some type of support underneath. I don’t see the reason to go long quite yet, but I will be watching for some type of bounce or supportive candle to go long, or break above the 12,350 level as well. There is a significant amount of volatility ahead, but I believe ultimately that the buyers will win as the DAX is considered to be the blue-chip stocks of the European Union.
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.
