FxWirePro: DAX30 weakness to persist on weak US markets, good to sell on rallies

• DAX index was consolidating after hitting high of 12535 and closed yesterday at 12394 0.30% lower. US markets was closed lower yesterday more than 0.5% after US Fed minutes meeting. US Fed FOMC meeting shows that central banks was positive on the economy and chances of hiking rates more than three are high. S&P500 futures continuing its yesterday weakness and is trading at 2686 0.44% lower. It is trading around 2686. Asian stock indices are trading lower especially Nikkei is trading more than 1% weak on account of slight strength in JPY.
   
• DAX index jumped almost 300 points in the previous week and has closed yesterday at 12391. 
   
• 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 12200-250 with SL around 12000 for the TP of 12660/13000.