A high level consolidation of the Friday surge through 11475.5 and 11650 resistance hesitant, but resilient below 11771.5.
This further reinforces the positive view into Tuesday within a broader range, after the Thursday Hammer candlestick pattern bounce from just below a key 11215 level rejected a shift to a more bearish theme, to maintain the range environment.
We see an upside bias for 11771.5; break here aims for 11912.5 and opens risk up to 12113.5.
But below 11558 opens risk down to 11424.5, which we would look to try to hold.
Short/ Intermediate-term Range Parameters: We see the range defined by 12113.5 and 11178.
Range Breakout Challenge
Upside: Above 12113.5 aims higher for 12429.5 and 12500.
Downside: Below 11178 sees risk lower for 10784.5 and key 10651.5.
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4 Hour DAX Future Chart