DAX futures (Mar 2018 contract FDXH8, continuation contract is FDXc1)
The market has just put the brakes on the run higher in the past few days and the key question is whether this turns corrective now.
Gains have still been posted in the first two completed sessions this week and the support of the key breakout around 13,336.
As yet it is too early to say, but the momentum is just coming out of the rally this morning and the daily momentum indicators are beginning to roll over as the market trades 40 ticks lower early today.
Look to the hourly chart for clues of this turning more corrective.
Firstly is there going to be a daily close below 13,336?
The intraday move lower today has only marginally breached the support and the hourly momentum indicators are in retreat.
The hourly RSI below 40 and MACD lines dropping below neutral would also heighten concerns of a corrective outlook.
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