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DAX futures analysis 16/03/2017


DAX futures (March contract is FDXH7 and EXPIRES 17th March, continuation contract is FDXc1)

 

The FOMC has been the catalyst finally for the breakout of the recent consolidation.

The market has been testing the support of the four month uptrend and has now burst through the resistance at 12,099 and this has now re-opened the all time high from the continuation chart at

The momentum indicators remain strongly configured on the daily chart but also if the RSI can push into the 70s then this would confirm the new bull run is on.

Previous bull breakouts have tended to be followed by consolidation moves, so this may be a risk in the coming days and the breakout support at 12,099 comes back into play.

  • This would suggest there is now a band of support 12,068/12,099 now.
  • Resistance is the all-time high at 12,430 with almost no resistance in between.

 


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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.