FxWirePro: DAX trades weak, good to sell on rallies
DAX has declined slightly after jumping continuously for the past two months. The index hits fresh 2-1/2 years high at 13534 at Nov 7th 2017. It is currently trading around 12984. The index dipped till 12847 on Nov 14th …
DAX has declined slightly after jumping continuously for the past two months. The index hits fresh 2-1/2 years high at 13534 at Nov 7th 2017. It is currently trading around 12984.
The index dipped till 12847 on Nov 14th 2017 and is consolidating between 13212 and 12857 for past one week. The major support stands around 12800 and any violation below will drag the index to next level till 12610 (100- day MA)/12337 (233- day MA).
On the higher side, 13500 will be acting as near term resistance and any break above will take the pair to next level till 13920 (161.8% retracement of 13524 and 12961)/14000.
It is good to sell on rallies around 13050-13100 with SL around 13300 for the TP of 12820/12610.
