DAX forecast for the week of December 5, 2016, Technical Analysis

The German index fell during most of the week but did find a little bit of support towards the end of the day on Friday. This is a very consolidative market at the moment, and I believe there is massive support at the €10,250 level below. I think that the €10,800 level above is resistive, so if we can break above there is a longer-term “buy-and-hold” type of signal until we get to the €11,300 level. I have no interest in selling, and continue to remain bullish of the DAX but recognize we are trying to build up momentum at the moment.