DAX30: Sell on rallies
Major support – 10200
The index has broken major support at 10200 and declined till 10115 at the time of writing. It is currently trading around 10131.
DAX is declining continuously for the three straight sessions after making a temporary top around 10475 level.
On the lower side, the immediate support is at 10070 (90 4H EMA) and any break below will drag the index down till 10000/9962 (200 4H MA)/9840.
Overall trend reversal only above 10500 level.
It is good to sell on rallies around 10220-10250 with SL around 10500 for the TP of 9962/9845.
The index has broken major support at 10200 and declined till 10115 at the time of writing. It is currently trading around 10131.
DAX is declining continuously for the three straight sessions after making a temporary top around 10475 level.
On the lower side, the immediate support is at 10070 (90 4H EMA) and any break below will drag the index down till 10000/9962 (200 4H MA)/9840.
Overall trend reversal only above 10500 level.
It is good to sell on rallies around 10220-10250 with SL around 10500 for the TP of 9962/9845.