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.
This looks to be a crossroads for the DAX now.
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