- DAX index has shown a recovery of almost more than 500 points from the temporary low of 12076. S&P500 declined almost 60 points from the high of 2725 and closed at 2668. But S&P futures is continuing its down trend and is at 0.39% decline in Asian session.
- DAX index jumped almost 5% and jumped till 12647. It is currently trading around 12531.
- The minor bullishness can be seen only if it closes above 12660 (233- day MA) and any close above will take the index to next level till 12890/13050 (100- day MA). It should break above 13600 for further bullishness.
- On the lower side, near term major support is around 11800 and any break below will drag the index till 11400/11000.
It is good to sell on rallies around 12650-700 with SL around 13000 for the TP of 11860.
