Yahoo Finance 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
This article was originally posted on FX Empire
