DAX Index Price Forecast March 14, 2018, Technical Analysis

German traders sold off the DAX during the trading session on Tuesday, reaching as low as €12,160 before finding a bit of support. That is a good sign though, because it appears that there is still plenty of underlying support for this market. Perhaps the markets have overreacted a bit to the news that the president of the United States fired the Secretary of State, but quite frankly these types of moves into being value propositions that the longer-term minded trader will continue to look at as opportunity.

I believe that the market has a massive amount of support near the €12,000 level as well, and that is essentially the bottom of the uptrend currently. I think that we will ultimately continue the uptrend, but it might take a while to get it going. Patience will probably win the argument, and of course proper position sizing as a volatile market will continue to be the norm in my estimation as the markets have been a bit overextended at times. I think given enough time though, we will go looking towards the €12,500 level, and then the €13,000 level after that. If we were to break down below the €12,000 level, that obviously changes everything, but I don’t think it’s going to happen, despite the massive selloff we had seen during the day. The simple fact that we are starting to find buyers underneath suggests that we will continue to rise over the long-term.

DAX Video 14.03.18

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