The $DAX long term view

This is an excerpt from our Trading strategy report for 2017 about the DAX

Among European indices, the most popular, and the most indicative is the German stock market Index DAX. The index also has a negative correlation with the EUR/USD (when EUR/USD is falling the Index is rising and vice versa) and has a possibly greater potential than US indices concerning the fact that it has not broken above the all-time highs 12410 points.

In 2017 we expect a test of 12410 and possibly extension higher to 13000 with a support in 11000-11500 zone for any correction short/medium term.

Happy trading! (click on the chart to enlarge it)


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