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DAX futures analysis 19/07/2017

Last updated: September 4th, 2017 at 10:12 am

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


With yesterday’s sharp bear candle the two month top pattern has been re-affirmed.

  • The failure to break the 12,730 resistance and subsequent lower high at 12,672 adds pressure to the downside once more.

There have now been four bear candles in a row and the market is also back below what has become a pivot at 12,487.

This pivot is the neckline of the two month top and opens pressure back on the lows around 12,300 again.

Momentum indicators are increasingly negative again, with the RSI below 50, Stochastics crossing lower again and if the MACD lines complete a bear cross this would be the confirmation that the 12,303 will come under continued pressure.

  • The hourly chart shows the 12,487 pivot is now a basis of resistance, whilst the neckline of the small top of the past week at 12,567 adds to the overhead resistance and means a band of sell-zone now 12,487/12,567.

The hourly momentum is also now negatively configured for a preference of selling into strength.

  • Initial support is an old pivot at 12,400 and yesterday’s low at 12,374.


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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.