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Chart Pattern- Double top
Major resistance - 11000
DAX30 is trading in narrow range for past four trading session between 10977 and 10792. The index was holding above 20-day MA despite Brexit uncertainty.The House of Common rejected May Brexit deal 432 to 200 was more severe than anticipated and this has opened possibility of a no- deal Brexit. The index jumped nearly 6.75% from low of 10281 and lost more than 1.5% from high of 10977 . It is currently trading around 10927.
The index is facing strong resistance around 11000 and any break above targets 11592/11869.
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 above 11000 with SL around 10780 for the TP of 11590/11869.
