DAX Forecast August 6, 2015, Technical Analysis
The DAX as you can see gapped higher at the open on Wednesday, clearing the €11,500 level. By doing so, we ended up going much higher, and as a result of closing towards the top of the range, we believe that the DAX will continue to go higher given enough time. We think the pullbacks offer buying opportunities, and that the €11,800 level is the next target. We have no interest in shorting this market, as we see a significant amount of support somewhere around the €11,300 level. Given enough time, we fully anticipate seen this market go towards the €12,350 level yet again.