DAX Price Index Forecast August 16, 2017, Technical Analysis

The German index continues to show signs of resiliency during the day on Tuesday, although we did pull back slightly. The gap was filled, and it looks likely that we are going to continue to see buyers jump into this market. I think that if we can break above the €12,250 level, the market should continue to go much higher. I think the pullbacks of this point are a real threat though, because there is a massive gap from the Monday session that has not been filled. Either way, I am bullish so I look at pullbacks as potential buying opportunities. Overall, stock markets have done reasonably well over the last couple of sessions, and I think that a lot of the fear trade has come out of the market, as the situation between the United States and North Korea has settled down quite a bit. Ultimately, I do believe that this market reaches to much higher levels, so simply buying the dips on short-term charts with small positions might be a good way to go, as you can build up your trade.

DAX Video 16.8.17