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DAX Forecast February 27, 2017, Technical Analysis

By:
Christopher Lewis
Updated: Feb 25, 2017, 05:41 UTC

The German index fell hard on Friday, but does seem to find a bit of support near the €11,700 level. I believe that is only a matter of time before the

Dax daily chart, February 27, 2017

The German index fell hard on Friday, but does seem to find a bit of support near the €11,700 level. I believe that is only a matter of time before the buyers get involved and we bounced to continue the longer-term uptrend. The €12,000 level offered a lot of resistance, but that psychological at best. Because of this, I am still bullish of this market and I believe it’s only a matter of time before the buyers get involved every time we dip. These dips should continue to be buying opportunities over the longer term.

DAX Video 27.2.17

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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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