So with all the world-wide money printing programs going on, it is of little surprise that all major markets were in the green on Friday and the DAX is being given a strong buy signal. Volume in fact was so high on Friday morning that Deutsche Boerse AG had to suspend trading in Frankfurt (around 10am) to reboot their systems.
It is likely that the money printing will continue to bolster German companies and the lower oil prices will help the industries as well.
We are a bit overbought in the very short term, so I am going to add to my positions from around the 92xx level, ideally 9200
My chart details a 2.5:1 reward to risk setup based on a pullback from current levels close to the 9200 level which was critical in clarifying the DAX direction. Bears were completely pushed aside after clearing this level.
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DAX Prediction this week
