DAX futures (Mar 2018 contract FDXH8, continuation contract is FDXc1)
The outlook for the DAX has become far more mixed in recent sessions as the negative candles have racked up.
However holding up above 13,125 and the old 13,200 breakout means that there is still a positive medium term outlook.
The market is trading above the moving averages with the momentum indicators still broadly positively configured.
Within this, MACD lines are coming together again in a similar way to mid-January when they bull kissed higher, whilst the RSI remains above 50.
A move back to close above 13,400 would suggest the bulls are being re-engaged and pushing higher again.
Friday’s marginally positive candle has helped to steady the ship but this move needs to continue to build positive momentum today.
The hourly chart shows the hourly RSI under 60 whilst the MACD lines are under neutral, showing there is more that needs to be done.
At Hantec Markets Ltd we provide an execution only service. Any opinions expressed by analyst Richard Perry should not be construed as investment advice or an investment recommendation. This report does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. Forex and CFDs are leveraged products which can result in losses greater than your initial deposit. Therefore you should only speculate with money that you can afford to lose. Please ensure you fully understand the risks involved, seeking independent advice if necessary prior to entering into such transactions.