DAX is trading lower for past two days on US-China trade tension.The decline was due to Ryanair which reduced its profit estimate in coming quarters on Brexit uncertainty,delay in delivery by Boeing and infineon lost more than 3% after it halted its shipments to Huawei after Trump’s blacklisting. The index hits low of 11987 and is currently trading around 12039.
On the higher side, near term resistance is around 12220 and any violation above targets 12300/12350.
The major support on the lower side is around 11839 low made on May 13th and any violation below 11800 confirms bearish continuation and a dip till 11672/11500 likely.
It is good to sell on rallies around 12225-250 with SL around 12350 for the TP of 12000/11850.
