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FxWirePro: DAX30 Daily Outlook

  • DAX index has closed slightly on the higher side yesterday nearly 1.32% higher. But Dow and S&P rose more than 1% yesterday for the fourth consecutive days. US inflation came at 0.5% slightly more than forecast of 0.3%.S&P500 futures also continuing its bullish trend and is 0.42% up. Any break above 2725 confirms further bullishness.  It is trading around 2708 0.42% higher. Overall weakens can be seen only below 2530 level.
     
  • DAX index recovered after hitting low of 12069 yesterday and index jumped more 300 points yesterday and has closed around 12414.    
     
  • 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 12150-200 with SL around 12000 for the TP of 12660/13000.

 

 

 

 

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