DAX Index Forecast March 15, 2018, Technical Analysis

The German index rallied a bit during the day on Wednesday, but then rolled over slightly at the €12,300 handle. Nonetheless, the $12,000 level underneath seems to be a significant support level, and ultimately it looks very likely that the level will continue to attract buyers. I am very bullish of this market if we can stay above there, but if we were to turn around and break down below the €11,800 level, the market could unwind a bit and reach towards the €11,500 level. Longer-term, I still believe that the market goes higher, but ultimately, I think that the €12,500 level is going to offer a bit of resistance but breaking above there would have fresh money coming into the market. I also look at the €12,750 level as a potential target over the next several days.

DAX Video 15.03.18

In general, I do like the DAX, but I recognize that stock markets are very noisy right now, and that will course continue to make things difficult. I would keep my position size very small, as risk appetite seems to be in a state of flux. If the markets can break above the €12,750 level, I think we then go looking towards the €13,000 level, and then possibly even the €13,500 level. Obviously, that is a longer-term call, and it will keep the longer-term traders interested, but you’re obviously going to have to deal with the line of noise and will need to be patient going forward. Every time we pull back, I think that should be a buying opportunity.

---

Suggested Articles

• 2018 Best Brokers Awards
• Best Forex Broker
• Best CFD’s Broker

---