Thursday, October 15, 2026

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FxWirePro: DAX faces strong resistance 10200, good to sell on rallies

Major resistance- 10200 (200 day MA) Major support -9750 DAX has made a high of 10110 (May 10th 2016) and declining from that level. It is currently trading around 9816. Short term trend is low as long as resistance 1020…

By FxWire Pro
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FxWirePro: DAX faces strong resistance 10200, good to sell on rallies
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  • Major resistance- 10200 (200 day MA)
     
  • Major support -9750
     
  • DAX has made a high of 10110 (May 10th 2016) and declining from that level. It is currently trading around 9816.
     
  • Short term trend is low as long as resistance 10200 holds. Any short term bullishness can be seen only above 10200.
     
  • Any violation above 10200 will take the index till 10400/10500.
     
  • On the lower side 9750 is acting as major support and trading below that level will take the index till 9566/9440 (Apr 2016 low).

It is good to sell on rallies around 9950-10000 with SL around 10200 for the TP of 9566/9440

 

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