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Chart pattern formed- Double bottom
Major support - 11000
DAX index has bottomed out at 11050 and shown a minor jump of 400 points. The index was in selling mode for past four months and declined more than 2000 points from minor top made on 13179 made on Jun 14th 2018. It hits high of 11443 and is currently trading around 11412.
On the higher side , near term resistance is around 11512 (200- H MA) and any hourly close above targets 11667/11845 high made on Oct 17th 2018/11945 (61.8% fib).
The near term major support is around 11000 and a a violation below targets 10423/10000.
It is good to buy on dips around 11150-170 with SL around 11000 for the TP of 11800.
