Could the DAX bounce back here after starting the day lower?
At the time of writing, the German benchmark index was testing key short-term support between 23,928 to 24,041. This area was previously resistance while the 21-day exponential average also comes into play here.
if we see a bounce here then a new all-time high could be on the cards. Else, a potential break down could target the old support and resistance range around 23,500.
By Fawad Razaqzada, market analyst with FOREX.com
At the time of writing, the German benchmark index was testing key short-term support between 23,928 to 24,041. This area was previously resistance while the 21-day exponential average also comes into play here.
if we see a bounce here then a new all-time high could be on the cards. Else, a potential break down could target the old support and resistance range around 23,500.
By Fawad Razaqzada, market analyst with FOREX.com
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