DAX futures (Mar 2018 contract FDXH8, continuation contract is FDXc1)
The bulls reacted positively as the session ran on yesterday and the recent consolidation of the past week is once more threatening to the upside.
This comes with the opening gains this morning and a move above the initial resistance at 12,530.
Can the bulls sustain for a closing breakout?
There is a gap open at 12,435 this morning, however there are couple of levels that still need to be watched, with the two Fib levels of that recent sell off still a key factor.
The 38.2% Fib at 12,548 is still a barrier to gains that needs to be overcome.
With three successive positive candles there is a sense that the bulls are ready to make a move.
This is helped by the momentum indicators which continue to improve, as the MACD lines have bull crossed higher and the Stochastics begin to find real traction to the upside.
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