The German DAX index has been easing off in the last day and a half after its powerful rally on Friday and Monday. Though it has lost some momentum, the bullish structure is still alive. It needs to hold its own above the 24850 support area to keep bullish traders interested. Here, prior resistance meets the 21-day exponential average. Ideal location for dip buyers to step in. But will they? Upside resistance seen around 24,934 and then 25,000. Clear the latter and we could see new all-time highs or the German index.
By Fawad Razaqzada, market analyst with FOREX.com
By Fawad Razaqzada, market analyst with FOREX.com
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.