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

DAX Futures analysis 08/02/2017

Posted by on Feb, 8 2017.

Last updated: May 3rd, 2017 at 09:55 pm

DAX futures (March contract is FDXH7, continuation contract is FDXc1)

 

The market may have rallied yesterday and opened higher today, but the near term outlook remains negative.

A sequence of lower highs over the past couple of weeks continues a corrective move that continues to find resistance under the 11,700 resistance area.

Momentum indicators remain on a near term corrective configuration and the DAX is now trading below the falling 21 day moving average.

This points towards selling into strength.

The hourly chart shows a recent downtrend and finding resistance under hourly moving averages.

The hourly RSI is failing around 55/60 consistently now and hourly MACD lines cannot get back above neutral.

  • Initial support 11,520 with yesterday’s low at 11,460 now increasingly important in protecting a move back to the key medium term support 11,400.
  • Resistance 11,604 which is the bottom of a resistance band between 11,600/11,700.

 

DAX futures

DAX futures intraday

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, Guinea Bissau, Iran, 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. 70% 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.

 70% of retail investor accounts lose money when trading CFDs with this provider.You should consider whether you can afford to take the high risk of losing your money.