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DAX futures analysis 17/08/2017

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

DAX futures (Sept 2017 contract is FDXU7, continuation contract is FDXc1)


Despite the early dip today, the rebound is now eyeing a test of the key overhead pivot band 12,300/12,340.

This is a confluence of resistance from the old June/July lows but also an eight week downtrend.

Rallies have continually been seen as a chance to sell in the past couple of months and how the bulls react at this resistance could be key for the medium term outlook.

Momentum has improved with the Stochastics sharply higher after the four session rally but the RSI is back to 50 and is at an area where selling pressure tends to resume.

  • Failure to break above 12,300/12,340 resistance in the next couple of sessions will see the bulls once more losing confidence.
  • The hourly chart shows support of the old pivot around 12,200 and down to Tuesday’s low at 12,148.

This looks to be a crossroads for the DAX now.


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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.