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DAX futures analysis 30/03/2017


Last updated: May 3rd, 2017 at 09:55 pm

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

 

The breakout seen on the DAX remains intact as the market has moved to consolidate the gains.

This comes after Wall Street stuttered last night, but it is interesting to continue to see the DAX outperforming European peers.

The bulls are back in control following the breakout with five bull candles in the past six sessions.

Momentum indicators remain positively configured and in isolation the outlook would suggest that corrective moves are a chance to buy.

The continuation chart shows the next resistance of any note is up at 12,430.

On the hourly chart there is a consolidation into today’s session and this is helping to unwind stretched momentum.

  • There is also a band of good breakout support 12,130/12,210 to use for near term buying opportunities, whilst medium term support is strengthening at 11,879/11,950.
  • Initial resistance is yesterday’s high at 12,266.

 


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Research Risk Warning

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.