DAX futures (Dec 2017 contract is FDXZ7, continuation contract is FDXc1)
The rally within the range that began during Wednesday’s choppy session continues, but can it breakout?
An opening gap higher has been seen again and the market is now back in the area of resistance that has proved to be so difficult to breach in the past few weeks.
Momentum indicators are ticking higher again, with the Stochastics rising, and the MACD lines are bottoming.
The RSI has improved into the mid-50s but to signal a sustainable upside breakout (if a move above 13,209 is seen) then a push into the 60s is really needed.
A closing breakout needs to be seen for a decisive breach of the recent range.
Non-farm Payrolls uncertainty this morning means a breakout is unlikely before 1330GMT, but perhaps a strong, risk positive report will help drive a breakout?
The technicals are ranging for now but nothing is yet calling for a decisive breakout.
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