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DAX futures analysis 24/04/2017

DAX futures (JUNE 2017 contract is FDXM7, continuation contract is FDXc1)


A huge gap higher has completely changed the outlook once more for the DAX.

However with volatility so elevated this is a market that will be difficult to call on a near term basis.

Technicals have been blown out of the water this morning from the risk positive outcome from the French Presidential election with the market friendly Macron the clear leader going into the second round.

There is a huge gap now open, well back at 12,085 and the initial move suggests momentum is being maintained.

There is support from old highs of the broken downtrend, but it is interesting to see today’s traded low so far at 12,071 whilst there is a supportive high at 12,068.

Daily momentum is suddenly positive, but hourly momentum is stretched and this would induce a corrective pullback.

  • Support is initially at 12,298 before the day low at 12,271.
  • Resistance initially at the day high of 12,374  whilst the multi year high is at 12,412.


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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.