DAX futures (Mar 2018 contract FDXH8, continuation contract is FDXc1)
Breakout on the DAX!
The positive sentiment sweeping across global equity markets has driven DAX futures to a new all-time high as the market moves above the key November high of 13,525.
This comes with momentum indicators finally suggesting that the market is breaking the shackles of the false moves of recent months.
A bull kiss on the MACD lines, Stochastics rising strongly and RSI into the high 60s reflects the positive momentum but also with upside potential.
The next move is for the two key old resistance levels to become a basis of support between 13,422/13,525.
On the hourly chart there is a trend channel higher over the past week, and means that intraday corrections are now an opportunity to buy.
Treatment of the gap breakout could also be a key factor.
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