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DAX futures dipping as Sept contract runs down


DAX futures (Sept 2017 contract FDXU7 EXPIRES TOMORROW changes to FDXZ7, continuation contract is FDXc1)

 

On the final full day trading the front month September contract the outlook remains positive for DAX futures.

Another strong close last night maintains the rally higher which looked to be running out of steam I the near term.

There could still be a degree of consolidation in the market and this is reflected in the early slip back today (broadly in line with other markets).

However the outlook remains positive with momentum indicators in far more positive configuration now (RSI above 60, MACD lines rising above neutral and Stochastics also strong).

The prospect of a possible near term dip should help to renew upside potential and a retreat into the support band 12,340/12,487 would be a chance to buy.

  • There is near term resistance at today’s high of 12,541 and 12,567.
  • Yesterday’s low at 12,474 is the initial support.

 


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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.