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.