Live Chat

DAX continues to tentatively push higher


DAX futures (Dec 2017 contract is FDXZ7, continuation contract is FDXc1)

 

The bulls are gingerly looking to push higher as the seven week uptrend flanks the move into all-time high ground.

However there is a cautious look to the breakout with Friday’s close back below 13,000 and early gains being retraced today.

Momentum is still decent with the RSI and Stochastics showing little sign of slowing, however the MACD lines are threatening to roll over and need to be monitored as a sign that the uptrend could be maturing.

  • In the meantime though the past few sessions have all had higher lows (latest on Friday at 12,955) and is helping to support the market.
  • The bulls will therefore be looking at 13,031 from Friday’s high as initial resistance.

On the hourly chart there is a very slight bull bias still with weakness being bought into in the past few sessions and the hourly RSI bottoming around 50 in the past two sessions.

 


Ready to start trading?

Open an Account Try Demo

  • Archive

  • Topics

  • Videos

Research Risk Warning

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.