DAX: Sell on rallies
Major resistance -10670 (trend line joining 10777 and 10707).
Major support – 10415 (4 Hour Kijun-Sen).
Dax30 has once again retreated after jumping till 10648. It is currently trading around 10530.
On the lower side, the index has broken 100 -4 H MA and declined till 10486 at the time of writing.
The index should break below 10415 (4 Hour Kijun-Sen) for further decline till 10357(61.8% retracement of 10182 and 10648)/10160 is possible.
DAX formed a temporary top around 10777 and any further bullishness can be seen only above that level. The minor resistance is around 10650/10707.
It is good to sell on rallies around 10600-10650 with SL around 10777 for the TP of 10360/10160
Major support – 10415 (4 Hour Kijun-Sen).
Dax30 has once again retreated after jumping till 10648. It is currently trading around 10530.
On the lower side, the index has broken 100 -4 H MA and declined till 10486 at the time of writing.
The index should break below 10415 (4 Hour Kijun-Sen) for further decline till 10357(61.8% retracement of 10182 and 10648)/10160 is possible.
DAX formed a temporary top around 10777 and any further bullishness can be seen only above that level. The minor resistance is around 10650/10707.
It is good to sell on rallies around 10600-10650 with SL around 10777 for the TP of 10360/10160