DAX Index Price Forecast March 8, 2018, Technical Analysis

The German index drifted down towards the €12,000 level, but bounced significantly since then, clearing €150 by the time Wall Street woke up. Because of this, it’s likely that we will continue to go higher, as it appears that a lot of the fears are starting to abate. I believe that the market should continue to go towards the €12,500 level, but there might be a few hiccups along the way. Ultimately though, I believe that the €12,000 level is trying to offer a “floor” for this market. I believe that given enough time, we will probably continue the overall uptrend, but keep in mind that the markets will be noisy as there is a lot of fear. Ultimately, I think that the uptrend continues towards the €15,000 level, but we need to get through a lot of concerns with trade wars between now and then. That’s a longer-term call obviously, but I still have a proclivity to go to the upside.

Ultimately, if we were to break down to a fresh, new low, that could change everything, but I don’t think that’s going to happen anytime soon. I think that if we did breakdown though, we could find ourselves going to the €10,000 level longer term, after initially trying to test the €11,000 level. The DAX leads the way for the rest of the European Union, so it will obviously influence the MIB, CAC, and many more.

DAX Video 08.03.18