DAX Index Price Forecast September 25, 2017, Technical Analysis
The DAX rallied after initially gapping lower on Friday, to reach fresh new highs, but pulled back before we could sustain those gains. I believe that the market should continue to find buyers, and that the €12,500 level underneath is going to be supportive. With this being the case, I think it’s only a matter of time before we get bullish pressure in a market that continues to show the rest of Europe the way higher. Alternately, this is a market that tends to be considered the blue-chip index for Europe itself, and I think that market participants continue to look for Germany to lead the way. The German elections are coming, but once there over with I think we will have more pressure in a market that should continue to favor buying on the dips. I don’t have any interest in selling the DAX, I believe that the German economy is going to continue to look good going forward. I think that the DAX will continue to improve, despite the strengthening EUR/USD pair. Ultimately, this is a market that I think continues to make for good investing from a longer-term perspective, and short-term traders will continue to buy the dips going forward.
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The volatility may pick up from time to time, but ultimately every time we have had any significant selloff, the buyers have returned one stability came back. I think that will continue to be the long and grinding process to higher levels, and not only the DAX but stock markets around the world. Quite frankly, there’s nowhere else to put your money to earn any type of return. The DAX is a beneficiary of overall European strength, as well as a leader. This market continues to look as if it is one that you can build a large position in overtime.