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DAX Forecast February 21, 2017, Technical Analysis

By:
Christopher Lewis
Updated: Feb 21, 2017, 05:22 UTC

The DAX gapped higher at the open on Monday, but turned around to form a bit of an exhaustive candle. I don’t think that it’s an opportunity to serve

Dax daily chart, February 21, 2017

The DAX gapped higher at the open on Monday, but turned around to form a bit of an exhaustive candle. I don’t think that it’s an opportunity to serve buying at lower levels, and I believe that the €11,650 level below continues to be supportive. A supportive candle would be an excellent opportunity to go long in a market that should continue to see a move towards the €12,000 level, and even higher given enough time. I believe that the support extends down to at least the €11,500 level also, so quite frankly I have no interest in selling.

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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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