Major Support- 12149 (20- day MA)
DAX continues to trade higher for the past four days and jumped more than 400 points on trade optimism. US and China agreed to resume trade talks and will not impose tariffs on $300bn worth of Chinese imports. The global stock market recovers sharply as trade deal lifts risk appetite. The index hits high 12608 and is currently trading around 12544.
On the higher side, the index has broken major resistance around 12454 high made on May 3rd 2019 and this confirms minor bullishness, a jump till 12886/13000 is possible.
The near term support is around 12150 (20- day MA) and any break below will drag the index till 12000/11600.
It is good to buy on dips around 12400-425 with Sl around 12150 for the TP of 13000.
