DAX30 trades well below 200 WMA, targets 9000/8800

• Major resistance – 9755 (Daily Tenkan-Sen)
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• The index has recovered till 9718 yesterday and declined from that level. It is currently trading around 9400.
   
• The index upside has been capped by daily Kijun-Sen at 9767 and any further bullishness only above 9755. The bearishness from 10348 to 9161 will come to end only if the index closes well above 9767 level.
   
• Any indicative break above 9767 will take the pair till 9896 (61.8% retracement of 10348 and 9161)/10000/10350.
   
• The index should break above 10500 for the overall trend reversal.
   
• On the lower side major support is around 9400 and any violation below will drag the pair down till 9120/8996/8800.

It is good to sell on rallies around 9420-9450 with SL around 9767 for the TP of 9000/8820.