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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