Major support – 10090 (90 day EMA). The index recovered after making a low of 10090 on Aug 3rd 2016. It is currently trading around 10259. DAX has formed the temporary top around 10487 on Apr 21st 2016 and the index is…
The index recovered after making a low of 10090 on Aug 3rd 2016. It is currently trading around 10259.
DAX has formed the temporary top around 10487 on Apr 21st 2016 and the index is struggling to close above that level. So trend reversal can happen above 10500.
Short term resistance is around 10300 and break above targets 10375/10470.
On the lower side, the immediate support is at 10090 (90 4H EMA) and any break below will drag the index down till 10000/9960 (200 4H MA)/9840.
It is good to sell on rallies around 10250-10300 with SL around 10500 for the TP of 9962/9845.
