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 i…
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.
