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O’Hare: Trend reversal on the DAX Index
On Wednesday the DAX Index fell by 62½ points, but Steve O’Hare is predicting a reversal of this bearish trend as he looks to buy the DAX Index.
The DAX has fallen as concerns over Ukraine deepened and reports revealed trading volumes between Germany and China were lower than expected. The index did show signs of support on Wednesday after Germany reported import and export numbers that beat estimates. This positive momentum is expected to put an end to the downward trend experienced by the DAX index, which has fallen for six consecutive days.
Steve is looking to buy at the market open and on a dip at 9160. His profit targets are set at 9275 and 9310, with a stop at 9310.
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01:12 minutes
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