Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

DAX Under Pressure As Corrective Outlook Forms

Published 10/11/2017, 12:31
Updated 09/03/2019, 13:30

DAX futures (Dec 2017 contract is FDXZ7, continuation contract is FDXc1)

The bears have grasped control now as a sharp market decline has taken hold.

A second strong bear candle in the past three sessions has now broken the support of a ten week uptrend.

Although the trendline survived on a closing basis the early moves today suggest the market is accepting the new lower levels and the pressure is mounting on a correction.

This comes with a string of negative signals on momentum with the MACD lines crossing lower, the Stochastics accelerating to the downside and RSI at a nine week low.

  • Further pressure back on the breakout support around 13,089 looks likely now.
  • Yesterday’s low was at 13,102 but the negative configuration on the hourly momentum suggests rallies are noa chance to sell.
  • This is reflected in the rebound from 13,102 that has rolled over this morning at 13,215 suggesting near term resistance is back between an old range from late October at 13,190/13,250.

Another bear candle today will maintain the corrective momentum.

DAX-Futures Chart

DAX-Futures-Intraday

"DISCLAIMER: This report does not constitute personal investment advice, nor does it take into account the individual financial circumstances or objectives of the clients who receive it. All information and research produced by Hantec Markets is intended to be general in nature; it does not constitute a recommendation or offer for the purchase or sale of any financial instrument, nor should it be construed as such.

All of the views or suggestions within this report are those solely and exclusively of the author, and accurately reflect his personal views about any and all of the subject instruments and are presented to the best of the author’s knowledge. Any person relying on this report to undertake trading does so entirely at his/her own risk and Hantec Markets does not accept any liability.

Original post

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.