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.
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.
