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DAX Index Price Forecast August 28, 2017, Technical Analysis
Updated: Aug 26, 2017, 06:34 GMT+00:00
The German index went higher initially during the day on Friday, but then fell significantly as the world awaited the speech by Mario Draghi in Wyoming.
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The German index went higher initially during the day on Friday, but then fell significantly as the world awaited the speech by Mario Draghi in Wyoming. The market looks likely to look to the ECB as whether they will accommodate stock markets, or if they are going to start tightening. Ultimately, I believe that the DAX does go higher though, and that being the case I am a buyer of dips. If we breakdown from here, there is a massive gap below at the €12,050 level. That is also support, so I feel it’s only matter of time before the buyers take over. It is not until we breakdown below the €12,000 level that I would consider selling.
DAX Video 28.8.17
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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