DAX Index Price Forecast August 21, 2017, Technical Analysis
The German index rallied during the day on Friday, as the oversold condition is starting to correct itself. On top of that, we have started to form a “higher high” on the intraday chart, so that’s a good sign. I think that the buyers are coming in based upon value, and of course the idea that the European Union is strengthening in general. The market has a hard floor at the €12,000 level, so I don’t think will break down below there. There is a gap that formed just above that level, and that should continue to attract a lot of attention as well. I believe that we are going to go looking towards the €12,300 level above.