DAX Price Forecast February 28, 2018, Technical Analysis

The German index drifted a bit lower during the trading session on Tuesday, reaching down towards the €12,400 level. I believe that there is plenty of support underneath, especially at the €12,300 level. I believe that the market should continue to find plenty of buyers underneath, and therefore I’m looking for value in this area. At the first signs of a bounce, I am willing to buy this market because I believe that the DAX will continue to strengthen overall. I have a target of €12,750, and then eventually beyond there to the €13,000 level.

The €12,000 level underneath is massively supportive, and I believe it is the bottom of the overall uptrend. I think that the market should continue to be in an uptrend if we can stay above there, and I think that the market should then go to much higher levels as we stay above that level. I believe that the €15,000 level is the longer-term target, but obviously it’s going to take quite some time to get there. That’s my target by the end of the year, perhaps early 2019, so from a longer-term perspective I do like buying this market and holding onto it. If we were to break down below the €12,000 level, then I think we probably break down to the €10,000 level. However, I believe that the longer-term outlook for this market is very bullish, so I would be surprised if we break down.

DAX Video 28.02.18