DAX 30 Futures forecast for the week of January 21, 2013, Technical Analysis

The DAX had a negative week over the last five sessions, but remains consolidating above the €7600 level. We recently broken out from the €7500 level and we believe that this last two weeks have simply been the market taking a rest before its next move higher. Looking at the charts, there’s nothing to think that this market is going to suddenly reverse, and the recent action has certainly been very bullish, going all the way back to this past summer. On a break above the €7800 level, we think that this is a screening buy and would become aggressively long. We also would be buying a pullback that shows some type of support between €7500 and €7600.

 

DAX 30 Futures forecast for the week of January 21, 2013, Technical Analysis
DAX 30 Futures forecast for the week of January 21, 2013, Technical Analysis

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