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DAX Forecast December 2, 2016, Technical Analysis

By:
Christopher Lewis
Published: Dec 2, 2016, 05:05 UTC

The German index fell slightly during the session on Thursday, showing that we continue to have a little bit of a when to fight. However, I still believe

Dax daily chart, December 02, 2016

The German index fell slightly during the session on Thursday, showing that we continue to have a little bit of a when to fight. However, I still believe that there is plenty of support below so I am waiting to see a bounce or supportive candle that I can start buying. In the meantime, I would anticipate a slow drift to the downside. I think that there is massive support at the €10,250 level though, so I believe that any move to the downside is limited at best. I believe also that we are trying to build up enough momentum to finally break above the €10,800 handle.

About the Author

Being FXEmpire’s analyst since the early days of the website, Chris has over 20 years of experience across various markets and assets – currencies, indices, and commodities. He is a proprietary trader as well trading institutional accounts.

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