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DAX futures consolidate with corrections a chance to buy

DAX futures (Dec 2017 contract FDXZ7, Sept U7 contract EXPIRES TODAY, continuation contract is FDXc1)


As the front month rolls over to December, the market continues to consolidate.

The correction that has threatened over recent days has so far failed to materialise with recent candles showing long lower tails but buying into the close.

This suggests that the sellers are testing the water but are unable to take control near term.

Although momentum indicators such as the RSI (around 65), MACD and Stochastics (both rising in bullish configuration) remain strong, there is still a feeling that a near term correction would help to renew upside potential once more.

As such corrections remain a chance to buy.

  • The support band 12,300/12,504 is prime for the next higher low and would be a good medium term buying opportunity should one arise.
  • For now though the market consolidates under 12,556 (this week’s high)but above support of Wednesday’s low at 12,463.
  • Resistance of July’s high at 12,655 is now key.


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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.