DAX futures (Dec 2017 contract is FDXZ7, continuation contract is FDXc1)
After trading for much of yesterday’s session above the 13,000 breakout the market has pulled sharply lower in a risk off driven correction.
The concerns that have been forming on the MACD lines are now beginning to take hold, with a bear cross on not only the MACD but also the Stochastics.
Furthermore if the market closes today around these levels, there would also be a basic RSI sell signal with a cross back below 70.
Obviously this is still very early in today’s session, but on a broadly basis a close below 13,000 would be taken as negative now.
The hourly chart shows a breach of several higher lows formed in recent days and the momentum indicators turning corrective now.
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