Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: DAX30 trades higher on US trade progress, jump till 11590 likely

DAX30 has jumped sharply on Friday following footsteps of US markets. US markets closed higher for 4th consecutive weeks on US-China trade hopes and jumped nearly more than 14% from low made on Dec 26th 2018. DAX formed a minor bottom around 10281 and shown a massive recovery of more than 9.50%. It hits high of 11260 and is currently trading around 11186.

 

The index is holding well above 11000 level and this confirms further bullishness a jump till 11592/11869 likely.

 

On the lower side, any violation below 10781 (78.6% fib) confirms minor weakness and break below targets 10689/10402.

 

It is good to buy on dips 11000 with SL around 10780 for the TP of 11590/11869.

 

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.