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Primeacademy
DAX Resilience: False Breakout Signals Potential Upswing
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Jun 13, 2024 at 05:46
Yesterday, we observed fascinating moves on the indices. Initially, prices collapsed sharply in the first half of the day. However, as American traders returned to the market, prices surged significantly higher. On the German DAX, a crucial horizontal support level at 18,390 points, which had been held in May and early June, was breached. This support break seemed significant, but by the end of the session, prices had reversed sharply, closing above this support again. This reversal marks a false breakout, indicated by an orange color on the chart, and suggests a positive sentiment. As long as...
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