FxWirePro: DAX30 trades lower on Trump’s tariff plan, good to sell on rallies

• DAX index shown a huge sell off yesterday and hits low of 12012 and closed near low 12065 2.44% lower. US markets declined sharply yesterday after Trump’s tariff plan with Dow (1.68% lower) and S&P500 (1.33% lower). The huge slump in US markets was mainly due to impose of tariffs on steel and aluminum imports.S&P500 futures continuing its weakness and is trading at 2675 0.1% lower. Asian stock indices are trading lower on account of Trump’s tariff plan.
   
• DAX index declined almost 300 points yesterday from the high 12403. 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.