FxWirePro: DAX30 faces strong support at 11800, major weakness can be seen below that level

• DAX index shown a huge minor sell off yesterday and hits low of 11875 and closed at 12000 0.54% lower. US markets has shown a minor recovery from the low Dow (0.70% lower) and S&P500 (0.5% higher). S&P500 futures continuing its weakness on account of Trump trade war and Italy hung parliament. It is trading at 2671.9 0.64% lower. Asian stock indices are trading lower on account of Trump’s tariff plan.
   
• DAX index has broken previous low of 11905 made on Feb 9th 2018 and declined till 11875. The index has formed a minor bottom at 11905 and showing a minor jump from that level.   
                         
• The minor bullishness can be seen only if it closes above 12660 (233- day MA) and any close above will take the index to next level till 12890/13050 (100- day MA). It should break above 13600 for further bullishness.
   
• On the lower side, near term major support is around 11800 and any break below will drag the index till 11400/11000.The minor support is around 12000.

It is good sell on rallies around 12200-250 with SL around 12500 for the TP of 11800/11420.