DAX futures (Mar 2018 contract FDXH8, continuation contract is FDXc1)
The DAX looked to be breaking down yesterday before an intraday rebound saved the market from a closing breach of the support at 12,810.
Closing at 12,849 the market has opened higher again this morning and it seems that the move has prevented a large top pattern from completing.
The key factor now becomes the resistance of the old support at 13,000.
If the bulls can recover to close back above this mid-range barrier then the outlook will significantly pick up again.
Momentum indicators suggest ranging conditions continue, with the RSI again picking up again at 38 (within the 38/62 range) whilst the Stochastics are also crossing higher again at the point they did at the November lows.
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