DAX futures (Sept 2017 contract is FDXU7 and expires on 15th Sept, continuation contract is FDXc1)
There is a definite sense that the sentiment is turning more positive on DAX futures now.
Selling as a result of the renewed North Korean tensions has not seemed to really take hold and the burgeoning positive outlook that had been forming through last week is still a factor.
This means that once more the downtrend of the past 11 weeks is being threatened today.
Daily momentum indicators are still corrective on a medium term basis but they are ticking higher again on a near term basis and at a crossroads.
The RSI is once more close to 50 whilst the MACD lines are also close to multi-week highs.
The market is now looking to hold up above a support band 12,077/12,100 from the hourly chart, whilst a move above Friday’s high at 12,190 would be significant for the bulls.
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