DAX Forecast August 25, 2015, Technical Analysis

The DAX gapped lower at the open on Monday, slicing all the way down to the €9400 level. The markets look well supported though as we bounced and ended up forming a hammer. The hammer of course signifies that the buyers could be finding quite a bit of support near the €9500 level, so if we can break back above the top of the candle, which is essentially the €10,000 level, we would consider buying. In the meantime, we are sitting on the sidelines and letting the market sort itself out, perhaps finding some stability.