DAX futures (Sept 2017 contract is FDXU7, continuation contract is FDXc1)
The market continues to consolidate Wednesday’s upside break, and is now forming a neutral technical outlook.
A sharp break back above the 12,487 neckline of the two month top has improved the outlook but needs to break above 12,730 to abort the corrective outlook.
Hence there is a somewhat neutral technical outlook forming near term.
The rally has just lost impetus with a mildly negative candle with the RSI beginning to settle around the low 50s.
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.