DAX30 :161.8% retracement and RSI bearish Divergence
Major Resistance- 11327 (161.8% retracement of 10830 and 10025); Major support – 10485 (trend line joining 9302 and 10200). The index jumped sharply after breaking major resistance10830. It jumped till 11240 and slightly…
Major Resistance- 11327 (161.8% retracement of 10830 and 10025);
Major support – 10485 (trend line joining 9302 and 10200).
The index jumped sharply after breaking major resistance10830. It jumped till 11240 and slightly declined from that level. It is currently trading around 11180.
On the lower side, minor support is around 10999 (5- day MA) and any break below 10999 will drag the index down till 10780/10720 (61.8% retracement of 10403 and 11240)/10630 (daily Kijun-Sen).
The major resistance is around 10830 and any violation above targets 11040/11320 (161.8% retracement of 10830 and 10025).
Short term weakness only below 10000.
It is good to sell on rallies around 11200 with SL around 11330 for the TP of 11000/10800
