FxWirePro: DAX30 trading weak on global equity slump, good to sell on rallies

• DAX index was trading lower yesterday and hits low of 12367 and closed near low 12367 0.51% lower. US markets declined for the second straight session with Dow (1.50% lower) and S&P500 (1.11% lower). Feb month was the worst month by percentage decline since Jan 2016. S&P500 futures continuing its weakness and is trading at 2707 0.47% lower. Asian stock indices are trading lower on the footsteps of US markets.
   
• DAX index declined almost 238 points from the high 12603. 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 to buy on dips around 12350-400 with SL around 12200 for the TP of 13000.