Live Chat

DAX futures analysis 05/04/2017


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

 

The prospective correction on the DAX remains in play.

Yesterday’s marginally positive candle has done little to undo the negative near term implications of the bear candle from 12,412 on Monday.

Today’s initial move has been sold into and with momentum indicators moving into reverse on the daily chart this could add to near term corrective pressure for a retreat back towards the 12,130/12,210 support band.

The hourly chart shows a deterioration in the hourly momentum indicators and initial support at 12,253 (yesterday’s low) will be an interesting marker.

  • Below support at 12,210 also completes a near term top pattern and at least opens 12,130.
  • Resistance initially at 12,326 as yesterday’s rebound high, before minor resistance at 12,356 which protects 12,412.

 


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.