DAX futures (JUNE 2017 contract is FDXM7, continuation contract is FDXc1)
A consolidation continues with the bulls still unable to regain the upside momentum.
The market has now been trading for almost two weeks above the breakout support band 12,411/12,518 however continues to flounder around the near term pivot of 12,666.
The momentum indicators have been slipping back but remain positively configured on a medium term basis which continues to suggest this is a consolidation that will be bought into.
Early weakness today at the open suggests that once more the bulls are struggling today but as yet there is no suggestion that the 12,411/12,518 support band will be breached.
The hourly chart shows the recent slip with a slight negative bias on momentum and moving averages.
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