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DAX futures analysis 13/02/2017


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

 

Friday’s move to breakout ended up in a consolidation just under the near term resistance, however the bulls are still there today to look for at the resistance once more.

11,700/11,725 needs to be overcome to re-open the highs once more.

The outlook is improving again, with the momentum indicators beginning to tick higher on the daily chart and the configuration on the hourly momentum indicators increasingly positive.

Filling Friday’s gap higher was bullish near term and there is now support at 11,640 which is above the pivot at 11,600.

Intraday corrective moves are being bought into for this test of 11,700/11,725.

  • The next resistance is 11,800, then 11,855 before the key high at 11,895.

 

DAX futures intraday DAX futures


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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.