Major support - 11114 (300- H EMA)
DAX has halted its bullish trend and dropped more than 1.5% from high of 11390 level after weak German economic data. German factory orders slumped by 1.6% in Dec highest level since 2012 and this has increased fear of recession. S&P500 upside capped by 200- day MA and started to decline slightly from high of 2738 made on Feb 5th. Markets eye US-China trade talks for further direction. The index hits low of low of 11159 and is currently trading around 11181.
The near term major resistance is around 11225 (100- H MA) and any break above targets 11325/11390.
On the lower side, near term support is around 11114 and any violation below targets 11069/11000.
It is good to sell on rallies around 11250-75 with SL around 11390 for the TP of 11000.
