Yahoo Finance DAX Index Price Forecast March 21, 2018, Technical Analysis
The German index rallied significantly during the trading session on Tuesday, rallying towards the €12,300 level, perhaps sending the market to the €12,400 level. I think that short-term pullbacks will continue to offer buyers underneath, especially near the €12,200 level and of course at the €12,000 level which is the “floor” in the market. Market volatility will continue to be an issue, especially considering that the German economic numbers during the day weren’t exactly strong.
DAX Video 21.03.18
I believe that longer-term we will go higher, perhaps breaking above the €12,500 level, and then reaching towards the €13,000 level. However, if we were to turn around a breakdown below the €12,000 level, and perhaps even the €11,800 level, then the support would be broken for the uptrend, and this market would unwind rather drastically. I currently believe that we are looking for buying opportunities, and of course value in this market so look at these dips as potential buying opportunities, and value plays for people that are willing to trade this market back and forth. Longer-term, I think that we could even look at the €15,000 level, perhaps even beyond there. A breakdown below the €11,800 level would unwind this market down to the €10,000 level. I think if you are going to play the DAX, you need to play small positions, and then add if the market goes in your favor. Otherwise, you need to be cautious and patient to take advantage of what I think will eventually be a strong market.
This article was originally posted on FX Empire
