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FxWirePro: DAX faces strong support around 8850, good to buy at dips

Tuesday, February 9, 2016 9:20 AM UTC

Major support 8850 (trend line joining 9450 and 9300)
DAX has declined till 8887 and started to recover from that level. It is currently trading around 8984.
On the higher side minor resistance is around 9085 (7 day 4H EMA) and any break above will take the index till 9180/9273.
Overall bearish invalidation only above 9550.
The index major support is around 8850 and below that level index will reach till 8680/8350.

It is good to buy at dips around 8950 with SL around 8850 for the TP of 9085/9180

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FxWirePro: DAX faces strong support around 8850, good to buy at dips

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