DAX Index Price Forecast March 2, 2018, Technical Analysis

The German index has fallen during the trading session on Thursday, losing over 1.5% during the day. There is plenty of support at the €12,000 level, and I think that’s the bottom of the uptrend. I believe that the market will continue to be attracted to that level, and if we can stay above the €12,000 level, then I think the market probably rallies towards the €12,500 level, and then eventually the €12,750 level after that. A break above there allows for more of a “buy-and-hold” situation, reaching towards the €13,000 level and beyond. I have a longer-term target of €15,000, and I still think that we will get there sometime this year.

However, if we break down below the €12,000 level, the market probably goes down to the €11,000 level, and then possibly the €10,000 level after that. That would be a very negative turn of events, and it could send this market much lower, perhaps sending the market worldwide into very negative momentum. Ultimately, I believe that this pair will find value hunters, with the €12,000 level being very important. I think that the next 24 hours will be crucial for the health of the DAX, so it might be prudent to sit on the sidelines and wait for the impulsivity to come into the market so that we can take advantage of what should be the next significant move.

DAX Video 02.03.18