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DAX Index Daily Fundamental Forecast – March 24, 2017

By:
Colin First
Published: Mar 24, 2017, 07:06 UTC

The DAX has managed to recover from its lows below 11850 over the last couple of days. The index had fallen through the support around the 11950 region a

DAX Index Daily Fundamental Forecast – March 24, 2017

The DAX has managed to recover from its lows below 11850 over the last couple of days. The index had fallen through the support around the 11950 region a couple of days back on global risks and fears surrounding the policies of Trump and also the French elections but over the last couple of days, the fundamentals have improved and this has helped the markets to settle down into a groove. This has helped the index to recover slowly from its bottom and now the bounce has assumed large proportions as the index has now started trading above 12000 once again.

DAX Bulls in Business Again

This should encourage the bulls immensely as they would have been very concerned over the fall. The bulls had spent several weeks trying to break the index through the range and just when it seemed that they had finally managed to do that, the fall came and it brought the index to its knees. But now that the index has broken through the resistance at 11950 again, the fall just seems to be a correction of the move upwards and this gives hope for the bulls.

DAX Hourly
DAX Hourly

Today is the last day of the week and the close today will be watched very closely. Also, we have the voting on the new healthcare bill in the US House and the votin could impact the healthcare stocks in the US and also around the world, in effect. So, the bulls will be watching the close of the week and if the DAX index manages to close above 12000 for the week, that would augur well for the coming weeks and our target of 12350 would be back in play. But if the stocks begin to fall, then we should be looking much further down. Keep an eye on the close and do remember that there will always be opportunities in the market.

About the Author

Colin specializes in developing trading strategies and analyze financial instruments both technically and fundamentally. Colin holds a Bachelor of Engineering From Milwaukee University.

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