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FxWirePro: DAX faces resistance at 21 day MA, good to sell on rallies

Wednesday, May 11, 2016 9:19 AM UTC

Major resistance- 10125 (21 day MA)
Major support – 9950 (55 day EMA)
DAX has made a high of 10110 yesterday and declined till 9970 at the time of writing. It is currently trading around 9985.
Minor trend is weak as long as resistance 10125 holds. Any break above 10125 will take the index till 10205 (200 day MA)/10400/10500.
Overall trend reversal only above 10500.
On the lower side DAX is facing support at 9950 and any break below targets 9820/9733/9650

It is good to sell on rallies around 10000 with SL around 10130 for the TP of 9825/9735

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FxWirePro: DAX faces resistance at 21 day MA, good to sell on rallies

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