Forecasts
Dax daily chart, January 10, 2016
Dax daily chart, January 10, 2016

DAX Forecast January 10, 2017, Technical Analysis

14 days agoByChristopher Lewis

The German index fell on Monday, testing the €11,500 level. That’s an area that should be rather supportive. We have gapped above here previously, so it suggests that the buyers should return. A supportive candle is reason enough to go long, and I believe that we will then reach towards the €12,000 level. Even if we do break down a bit, I think there is a massive amount of support extending all the way down to the €11,400 level underneath. With this, I remain very bullish of the DAX, and look at this pullback as potential value that I can take advantage of.