DAX Index forecast for the week of August 21, 2017, Technical Analysis

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