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DAX Index Price Forecast August 24, 2017, Technical Analysis

By:
Christopher Lewis
Updated: Aug 24, 2017, 05:01 UTC

The German index gapped higher a couple of days ago, and now it looks like we are dropping to try to find support below. The gap most certainly will be

Dax daily chart, August 24, 2017

The German index gapped higher a couple of days ago, and now it looks like we are dropping to try to find support below. The gap most certainly will be supportive, and I believe that eventually the buyers will return. Because of this, I have no interest in shorting this market, I believe that we will then reach towards the €12,300 level. I think that the €12,000 level underneath is the “floor” in the market, and that the German markets will eventually focus on the fundamentals as well, and that should continue to send this market to the upside.

DAX Video 24.8.17

About the Author

Being FXEmpire’s analyst since the early days of the website, Chris has over 20 years of experience across various markets and assets – currencies, indices, and commodities. He is a proprietary trader as well trading institutional accounts.

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