DAX futures (JUNE 2017 contract is FDXM7, continuation contract is FDXc1)
As the market again pulls back from its highs, is the DAX at a turning point?
Friday’s move higher was a strong bull day but over 120 ticks off the day high of 12,840.
The opening move this morning in the wake of the Macron victory was positive but the gains have been pared from 12,820 and unwound over 100 ticks again.
If the market closes around here and then posts a negative session tomorrow then there a corrective outlook could develop.
This comes with the daily RSI up at 76 which although is strong, could also easily look stretched.
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.