Live Chat

DAX futures analysis 09/03/2017


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

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

 

The bulls tried to regain control yesterday but it seems to have been a bit of a false start, so the consolidation is back on again.

The supports of the uptrend (today at 11,924) and the old breakout at 11,895 remain intact and for now this remains a bullish consolidation.

Daily momentum indicators are just threatening to run out of steam a touch with the MACD lines rolling over, however, for now this is just a near term move.

The hourly chart shows this to be a quieting period of trade (not to be unexpected in front of the ECB this afternoon) but corrective moves are still a chance to buy.

  • Initial support 11,912 before the 11,850/11,895 support band.
  • Resistance is now with yesterday’s high at 12,019 before 12,056 and the key high at 12,099.

 


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.