Dax future main trend is strongly bullish, but retracements are possible

New bullish technical picture for the Dax future. The main trend is strongly bullish, marked a fourth consecutive positive trading session.

Dax future Tuesday 25 April 2017 close was 12496 (+0.24%). New bullish technical picture drawn on daily chart (high2 < high1, high1 < high, low2 < low1, low1 < low, close > close1, close1 > close2), marked the fourth consecutive positive close. Momentum indicator confirms the positive trend, however we suggest to watch today closing.

Future Dax main trend strongly bullish

View the interactive chart on ProRealTime.com

Simple Moving Average (SMA)
Dax Future quotes are above 14 days moving average (SMA value is 12204). The short term view is strongly bullish, however for today trading session we can’t exclude retracements towards the most significant support levels.
Volumes
Future Dax daily chart shows a decrease in volumes compared to the previous day.


Support and Resistance levels
7, 15 and 30 trading days Performance. Support, Resistance and Pivot Point levels. Last updated closing price: 25/04/2017.

Performance: 7 trading days= +3.03% – 15 trading days= +1.62% – 30 trading days= +4.16%

Resistance levels: R1= 12526.50 – R2= 12556.50 – R3= 12625
Pivot Point: 12488
Support levels: S1= 12458 – S2= 12419.50 – S3= 12351


Buying opportunity above 12543.50 targets minor resistance at 12596 and perhaps as far as strong resistance at 12638.50, where sellers could regain control. Above that level it could trigger an acceleration to the upside with the next target at 12758.50.

Selling opportunity below 12445 targets minor support at 12396 and perhaps as far as strong support at 12353.50, where buyers could get back into the market. Below that level we could expect a bearish downward movement with the next target at 12231.

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