To view this morning's full DAX Future report with screencasts, click here
Remember, for a FREE trial of all our Equity Index Futures and other reports sign up by clicking here
An aggressive surge higher Friday to a new all-time high after the erratic bullish outside pattern on Thursday for a more bullish tone to leave upside for the 2nd half of January.
This has seen a push through a Fibo extension level 10240, close to next target at 10340
Short-term Outlook - Upside Risks:
- We see a more positive tone with the bullish threat to next Fibo extension levels 10340.
- Above here sees further Fibo targets at 10500, 10630 and 10840.
What Changes This? Below 9944 signals a neutral tone, only shifting negative below 9582.5.
Momentum: The 8-day RSI, short-term momentum is rising and has scope to go still higher this week (but has yet to confirm the new high).
For Today: Potential for a digestion day, given the US Holiday session. However, ...
- We see an upside bias for 10340; break here aims for 10500, maybe 10630.
- But below 10200/180 opens risk down to 10060/50, which we would look to try to hold.
Daily DAX Future Chart
2 Hour DAX Future Chart