DAX Forecast August 12, 2015, Technical Analysis

The DAX fell hard during the session on Tuesday, slicing through the bottom of the hammer from Wednesday. Because of this, it appears of the market is going to reach for more significant support, probably somewhere near the €11,200 level, where we had seen triple hammers form on the daily chart. With that, it’s only a matter time for the buyers get involved in that general vicinity, and as a result we would be buying on supportive candles and of course bounces. We also believe that the €11,000 level below is going to be massively supportive.