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FxWirePro: DAX Struggles to close above 9800, good to sell on rallies

The index has broken major resistance 9720 and jumped till 9830. It is is currently trading around 9595. Any minor weakness can be seen only below 9600 and any break below 9600 will drag the index down till 9420/9300. Th…

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FxWirePro: DAX Struggles to close above 9800, good to sell on rallies
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The index has broken major resistance 9720 and jumped till 9830. It is is currently trading around 9595.

  • Any minor weakness can be seen only below 9600 and any break below 9600 will drag the index down till 9420/9300.
     
  • The major long term support is around 9250 and any close below 9250 will confirm further weakness, a decline till 9000/8800 is possible .
     
  • On the higher side resistance is around 9850 and break above targets 10000/10165.

It is good to sell on rallies around 9650-9700 with SL around 9800 for the TP of 9300.

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