Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

DAX30 trades well above daily Kijun-Sen, decline till 10365/10200 likely

  • Major resistance – 10806 (Aug 15th 2016 high).
     
  • Major support – 10510 (daily Tenkan-Sen).
     
  • The index has once again after making a high of 10707 on Sep 22nd 2016. It is currently trading around 10467.
     
  • DAX30 has formed a temporary top around 10806 and any bullishness can be seen only above that level.
     
  • In the daily chart, the index has broken daily Kijun-Sen and this indicated minor weakness , a decline till 10365/10200 is possible.
     
  • Any break below 10510 (daily Tenkan-Sen) will drag the index down till 10365 (61.8% retracement of 10093 and 10806)/10244/10175 (100- day MA). The minor support is around 10650 (5-day MA).
     
  • On the higher side, any break above10806 will take the index to next level till 10880/11020/11153 (161.8% retracement of 10806 and 10244).

It is good to buy on dips around 10600 with SL around 10450 for the TP of 10806/10878.

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.