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DAX Index Price Forecast August 23, 2017, Technical Analysis
Updated: Aug 23, 2017, 04:35 GMT+00:00
The German index gapped higher at the open on Tuesday, clearing the €12,100 level. By doing so, it brought in enough bullish momentum to reach much higher
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The German index gapped higher at the open on Tuesday, clearing the €12,100 level. By doing so, it brought in enough bullish momentum to reach much higher and have one of the best days that we have seen in the last couple of weeks. The market looks likely to go looking towards the €12,300 level, where it should see a bit of resistance. However, I think that ultimately this becomes a “buy on the dips” situation as the most recent low is certainly higher than the previous one, and supported by the €12,000 level.
DAX Video 23.8.17
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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