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…
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.
