DAX30 breaks major support at 55-day EMA, decline till 10000 likely
Major support – 10374 (55- day EMA). Major resistance – 10806 DAX30 is trading weak for past three trading session .The index is trading near 55- day EMA and any break below confirms minor trend reversal, a decline till …
DAX30 is trading weak for past three trading session .The index is trading near 55- day EMA and any break below confirms minor trend reversal, a decline till 10030 (200- day MA) possible.
On the lower side, any break below 10374 will drag the index down till 10149 (100- day MA)/10028 (200- day MA).
The index major short-term resistance stands at 10510 (daily Kijun-Sen) and any violation above daily Tenken-Sen will take the DAX to next immediate resistance at 10616 (21- day MA)/ 10806 (Aug 15th 2016 high)
It is good to sell on rallies around 10375-385 with SL around 10515 for the TP of 10050
