DAX technical preview March 20, 2015

DAX futures consolidating below 12K. There is support @ 11.810, 11.745 and 11.600. There is resistance @ 12.025, 12.050 and 12.240. The trend is still up in all time frames despite the last two days’ correction. Ongoing correction from all-time highs maybe necessary to absorb recent gigantic gains. Fundamentals speak for a continuation of the uptrend as the weak Euro-currency helps German exports and the country’s bond yields are at record lows courtesy of ECB’s bond-buying program. We are buyers on pullbacks to support and don’t consider shorting this market just because it has run too far too fast.

DAX-30, hourly chart:

DAX(Hourly)20150319202412

Chart from Investing.com. http://investing.com

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