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DAX futures analysis 15/06/2017

Last updated: September 4th, 2017 at 10:13 am

DAX futures (JUNE 2017 contract is FDXM7 with EXPIRY on 16/06/2017, continuation contract is FDXc1)


Does an early correction provide another chance to buy on the DAX?

The expiry of the contract tomorrow muddies the waters somewhat and could be driving a degree of the correction today.

However ultimately, this correction on DAX futures should be a chance to buy (or at least move into the September 2017 contract on FDXU7).

The correction is back to the three week uptrend support and corrections remain a chance to buy.

  • The support of this week’s low at 12,663 remaining intact would help to maintain near term bull control whilst the momentum indicators remain sufficiently bullishly configured to continue to use corrections as a buying opportunity.
  • The previous breakout means there is support today between 12,663/12,709.

Furthermore the momentum indicators on the hourly chart are unwinding into an area where the buyers tend to resume control.

The rising 144 hour moving average has also become a good basis of support.

  • Resistance is now initially around 12,790 before 12,852 and the all-time high at 12,923.


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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.