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DAX Index forecast for the week of August 21, 2017, Technical Analysis
Updated: Aug 19, 2017, 05:03 GMT+00:00
The DAX rallied during the week, but gave back some of the gains. Most important, it appears that the gap at the €12,000 level on the daily chart is
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The DAX rallied during the week, but gave back some of the gains. Most important, it appears that the gap at the €12,000 level on the daily chart is holding, so I think we may get a bit of an upward surprise. Alternately, if we break down below the €12,000 level, the market will probably send this market much lower, perhaps down to the €11,500 level. Either way, I think volatility is probably a bit of a given, but the uptrend is still very much intact, so even if we break down, I still believe that it is only a short term situation.
DAX Video 21.8.17
About the Author
Christopher LewisSenior Analyst
Chris is a proprietary trader with more than 20 years of experience across various markets, including currencies, indices and commodities. As a senior analyst at FXEmpire since the website’s early days, he offers readers advanced market perspectives to navigate today’s financial landscape with confidence.
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