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DAX futures analysis 14/06/2017


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

 

The bulls are once more straining to gain control as yesterday’s bull candle is being followed up by further gains today.

  • The market has used the support band 12,634/12,662 as a springboard for renewed gains today, but there is still a need to decisively break free of the 12,827 initial resistance that protects the all-time high of 12,880.

Positively configured daily momentum indicators are building once more with renewed upside potential and the potential for a bullish breakout to new highs is growing.

  • The hourly chart shows the bulls testing the 12,827 early today with the support at 12,777 initially building above 12,738/12,745 from yesterday.

Hourly momentum is strong and the bullish outlook of hourly candles with a succession of higher lows should help to drive the market higher.

 


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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.