DAX futures (Mar 2018 contract FDXH8, continuation contract is FDXc1)
It is interesting to see that the recovery on the DAX futures has just lost its way in the past few sessions.
A succession of contradictory candles in recent sessions is leaving traders with an uncertain feel to the move.
However there is still a recovery feel to the momentum indicators with the Stochastics and RSI gradually tracking higher and MACD lines threatening to cross higher.
Today’s early drop back in the wake of downside on Wall Street last night is doing little to really impact on the outlook, with the hourly chart still fairly neutrally configured.
The support of yesterday’s low at 12,325 will become increasingly key near term as a failure would begin to suggest that bulls have lost the recovery.
For now this is a consolidation within the recovery, however breakouts of these two Fib levels will drive the net direction.
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