DAX futures (Mar 2018 contract FDXH8, continuation contract is FDXc1)
The bulls have lost control as another extremely strong bear candle was formed yesterday.
With a three week uptrend broken, it now seems as though intraday rallies are being sold into.
Although the market is still trading above all the moving averages on the daily chart, the chart is deteriorating now.
The momentum indicators have tailed off and although the RSI and MACD lines have not yet thrown any sell signals, the Stochastics are in decline now.
The hourly chart is corrective and another rebound late in yesterday’s session seems to have hit the buffers and the selling pressure is creeping back in again today.
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