FxWirePro: DAX Daily Outlook
Candle Stick Pattern- Doji
Major resistance- 13000
DAX30 has halted its 3- week of the bullish trend and shown a minor decline. The index jumped more than 1000 points following the footsteps of Wall Street. Overall global markets were in an uptrend on easing the US-China trade war. S&P500 hits a lifetime high and holding well above 3000.
German Prelim CPI m/m came at 0.1% slightly better than the forecast of 0.0% and markets eye US Fed monetary policy for further direction.
On the flip side, near term support is around 12845 and any violation below will drag the index down till 12700/12500. Major weakness only below 12400.
The near term resistance is around 13000 and any break above will take the index to next level till 13250/13500.
It is good to sell on rallies around 12910-920 with SL around 13000 for the TP of 12600.
