DAX futures analysis 09/06/2017

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

 

The DAX has opened strongly and pushed higher again as the bulls look back towards a test of the 12,880 high.

Corrections remain a chance to buy and the latest correction within the range has used the 12,666 mid-range pivot as a basis of support.

Momentum indicators have been mixed on a near term basis but seem to be a medium term bull consolidation and could still be the basis of the next run higher.

  • The resistance at 12,880 will subsequently be key.

The hourly chart shows a push back above 12,790 which has been a pivot and this re-opens 12,880.

  • Initial support is at 12,745 which is a breakout over the past few days, whilst the pivot around the middle of the almost 400 tick range 12,492/12,880 is now a range 12,634/12,709.

Corrections remain a chance to buy.

 

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