DAX Index Price Forecast June 21, 2017, Technical Analysis

The German index gapped higher at the open on Tuesday, but then fell significantly to blow through that gap, and reach towards the €12,850 level. We are starting to see a little bit of bullish pressure in that area, and that was an area that the traders gapped previously. Ultimately, I believe that the market is still one that is bullish, and with this being the case I’m looking for value in the DAX as I believe it will be a leader going forward.

Buying dips

I continue to buy dips in this market, and this move might be one of those moves that we are waiting for. I believe that the €13,000 level above will be a target, but eventually we will even break above that. I continue to buy these dips as we are looking at a potential move to the upside longer-term as well. Ultimately, the market is one that I have no interest in selling, and the value that has been presented during the session on Tuesday will be but a blip on the radar as we continue to see higher highs. Yes, it has been volatile, and as we continue to see the drama unfold with the British leaving the European Union, and therefore we could see quite a bit of choppiness in this market, and as a result I think that we will continue to see trading opportunities unfold on short-term charts. I have no interest in selling, I believe that the market will continue to be one that offers the ability to add to a core position if you are so inclined as well. The €13,000 level will offer a significant amount of resistance, but eventually I think that the momentum will push the market higher.

DAX Video 21.6.17