DAX futures (Dec 2017 contract is FDXZ7, continuation contract is FDXc1)
The uncertainty of the range that is now into a fourth week continues, but the bulls have taken back a degree of control in the early part of this week.
After the huge bear candle of Friday, yesterday’s recovery move has negated the corrective near term momentum.
In the past three weeks all of the positivity has petered out in this band of resistance.
Momentum is fairly neutral as the market is moving higher, and it is interesting that on the hourly chart there is a marginal positive bias without any real apparent upside traction.
This would suggest the bulls may be cautious as the upper reaches of this rectangle consolidation between 12,806/13,209.
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