- DAX index recovered more than 1% yesterday on positive US market. US Dow increased almost 400 points yesterday after huge sell-off in previous week. S&P500 futures is showing a minor decline after a good jump till 2670 level. The index is expected to show a good jump if it breaks above 2725 level high made on Feb 7th 2018. Overall weakens can be seen only below 2530 level.
- DAX index hits high of 12397 yesterday and has closed around 12347.
- 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 buy on dips around 12200-250 with SL around 12000 for the TP of 12640/13000.
