Live Chat
Open a Live Account
Try MT4 Demo
Fund Account Open a Live Account Try MT4 Demo Portal
Menu ☰

DAX futures analysis 02/06/2017

Posted by on Jun, 2 2017.

DAX futures (JUNE 2017 contract is FDXM7, continuation contract is FDXc1)

 

Breakout seems to have been achieved.

Although the 12,666 pivot once more kept the bulls honest yesterday, a opening gap higher today has taken DAX futures to a new two week high.

  • The breakout above 12,709 resistance should now enable upside traction to be formed and the bulls to start to look towards testing the 12,843 all-time high again.

Momentum indicators are now finding upside impetus again with the Stochastics crossing back higher, the RSI confirming the two week high on the price and the MACD lines looking to bottom again.

There is an opening gap higher today which has been left at yesterday’s high of 12,697 and this ideally would be filled before the market would move higher again.

Look to use corrective dips today (with Non-farm Payrolls volatility perhaps) as a chance to buy now.

  • The hourly chart shows positive momentum configuration and that there is a band of support now 12,666/12,709.
  • There is minor resistance at 12,790 that is protecting the 12,843 resistance.

 

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.

Platforms

Products

Support

Professional

This website is owned and operated by Hantec Markets Limited. Registered Office: 43-45 Dorset Street, London, W1U 7NA.
Company No. 06819047 FCA Register No: FRN 502635.

Hantec Markets is a trading name of Hantec Markets Limited who is authorised and regulated by the Financial Conduct Authority (FCA) in the UK. FCA Register No: FRN 502635.

The information and content provided on the website (“the Information”) you are going to access, has been compiled and presented in accordance with UK laws and regulations. The Information is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use may be contrary to any of the laws or regulations of that jurisdiction. The products and services described herein may not be available in all countries and jurisdictions. Those who access this site do so on their own initiative, and are therefore responsible for compliance with applicable local laws and regulations. The release does not constitute any invitation or recruitment of business.

Hantec Markets does not offer its services to residents of certain jurisdictions such as Afghanistan, Belgium, Central African Republic, Democratic Republic Congo, Eritrea, Iran, Iraq, Israel, Libya, North Korea, Somalia, South Sudan, Syria, USA, and Yemen.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 78% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.