DAX index has closed slightly on the higher side on Friday more than 1% up. US markets was trading higher and S&P500 post biggest weekly gain since 2013. The main reason for rebound in US market was due to strengthening …
DAX index has closed slightly on the higher side on Friday more than 1% up. US markets was trading higher and S&P500 post biggest weekly gain since 2013. The main reason for rebound in US market was due to strengthening of US economy and rise in corporate earnings. S&P500 has closed slightly above 2725 and this confirms minor bullishness a jump till 2800 is likely. It is trading around 2735 0.11% higher. Overall weakens can be seen only below 2530 level.
DAX index jumped almost 300 points in the previous week and has closed at 12485.
The minor bullishness can be seen only if it closes above 12660 (233- day MA) and any close above will take the index to next level till 12890/13050 (100- day MA). It should break above 13600 for further bullishness.
On the lower side, near term major support is around 11800 and any break below will drag the index till 11400/11000.
It is good to buy on dips around 12200-250 with SL around 12000 for the TP of 12660/13000.
