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DAX 30 faces strong resistance around 9300, break above targets 9620

Major resistance - 9300 (trend line joining 10876 and 9926) Major support - 9149 (7 day 4H EMA) The index has broken major resistance 9130 yesterday and jumped till 9266 at the time of writing. It is currently trading ar…

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DAX 30 faces strong resistance around 9300, break above targets 9620
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  • Major resistance - 9300 (trend line joining 10876 and 9926)

  • Major support - 9149 (7 day 4H EMA)

  • The index has broken major resistance 9130 yesterday and jumped till 9266 at the time of writing. It is currently trading around 9242.

  • Any break above 9300 confirms minor trend reversal, a jump till 9460/9620 is possible .

  • Overall bearish invalidation only above 10000.

  • On the lower side any break below 9149 will drag the index till 9035/8890.        

Buy above break out 9300 with SL around 9149 for the TP of 9460/9620

 

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