DAX futures (Dec 2017 contract is FDXZ7, continuation contract is FDXc1)
Once again the DAX bulls have been unable to drive a breakout and the market is dropping back from key near term range resistance once more.
The gap higher that came with Friday’s attempted breakout has now been filled as futures dropped back yesterday and have continued lower today.
Now the question is whether this is a gap that is “filled” or a gap that is “closed”.
However, now the market has dropped below 13,100 in the early moves today and keeps falling, this would be a negative “closing” of the gap.
An improvement in the daily momentum indicators has tailed off as the early dip away has hit.
Today’s closing level could now be key.
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