DAX Index Daily Fundamental Forecast – March 30, 2017

The DAX continued to trade strongly for another day, as we have mentioned in our forecasts for yesterday. The DAX finally managed to push through to range highs a couple of days back and it is to the credit of the bulls in the index that they have managed to keep pushing the index higher and higher and not allow it to fall into range. It is pretty clear that the fall back into range last week was more of a fake move and the real direction is only up and this gives us even more confidence that the index will move towards the all time highs pretty soon.

DAX Remains Buoyant

Our target for the DAX index has been 12350 for the past few weeks in fact but the fall in the index in the last week had led to some serious doubts on whether the bulls are losing steam and whether we will fall back into range which would in turn mean that the bulls would need to put in double the effort to bring the index back out of the range, something that they had struggled to do ever since the beginning of the year.

But, thankfully, the conditions in Germany and in fact in the rest of the world, has been conducive for a bullish run in the stock markets and that situation continues to be so even now and this has helped the DAX to shrug off the correction that we saw last week and has helped the bulls to push through higher and now the target at the all time highs looks much more easier and clearer.

Looking ahead to today, we do not have any major news for the rest of the day and so we expect the strong showing of the DAX to continue for today as well.