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Add as a preferred source on Google DAX30 faces strong resistance at 9860, break above targets 9940/100084 Major resistance – 9860 (21 day MA) The index has broken high 9718 (High made after Brexit) and jumped till 9795. It is currently trading around 9668. DAX30 should close above 9860 for further bullishness. Any break abov…
By FxWire Pro Jul 1, 2016, 8:01 AM UTC
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Major resistance – 9860 (21 day MA)
The index has broken high 9718 (High made after Brexit) and jumped till 9795. It is currently trading around 9668.
DAX30 should close above 9860 for further bullishness. Any break above 9860 will take the index till 9940 (90 day EMA)/10084 (200 day MA)/10300.
On the lower side, minor support is around 9620 (4 H Tenkan-Sen)/9572/9510 (yesterday low).
Short term weakness only below 9400 (61.8% retracement of 9161 and 9795).
It is good to buy above 9860 with SL around 9700 for TP of 10080/10300.
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