FxWirePro: DAX faces strong resistance around 9720, good to sell on rallies

• Major short term resistance -9720 (Daily Tenken-Sen)
   
• The index has made a low of 9254 yesterday and slightly recovered from that level . It is currently trading around 9375.
   
• Any break below 9250 will drag the index down till 9069 (200 W MA)/8880.
   
• The major long term support is around 9000 and any close below 9000 will confirm further weakness , a decline till 8350/8000 is possible .
   
• Short term bullishness can be seen only above 9720 and above that level index will reach till 9800/ 10000/ minor resistance is around 9590.

It is good to sell with SL around 9655 for the TP of 9069/8800/8355.